Sunday, October 13, 2013

Canada's TD Bank plans £7.5bn raid on RBS's US arm



Canada's TD Bank plans £7.5bn raid on RBS's US arm
TD Bank among companies rumoured to be plotting acquisition of Citizens as government ponders future of RBS
Juliette Garside
The Guardian, Sunday 13 October 2013 14.26 EDT   
Pressure to break up Royal Bank of Scotland is mounting following suggestions that Canada's TD Bank Group is looking to buy its US retail banking arm.

Citizens, which RBS bought in 1988, has one of the largest branch networks in America's prosperous north-eastern states and is thought to be worth $12bn (£7.5bn). Acquiring it could propel a second-tier North American bank into the big league.

Royal Bank of Scotland Group plc
Royal Bank of Scotland Group plc was a borrower at the Bailout - Term Auction Facility.

Note: 2008-2010 financial bailout was a government program at the Bailout - Term Auction Facility.
RBS America is a subsidiary of the Royal Bank of Scotland Group plc.
Ellen Alemany is the CEO for RBS America, and a trustee at the Committee for Economic Development.
Foundation to Promote Open Society was a funder for the Committee for Economic Development, and the Brookings Institution (think tank).
George Soros is the chairman for the Foundation to Promote Open Society.
Lawrence K. Fish is an honorary trustee at the Brookings Institution (think tank), and was the chairman for RBS America.

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