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RBS may sell US unit

czbRoyal Bank of Scotland has held initial talks with Japan’s Sumitomo Mitsui Financial Group about the sale of US retail division RBS Citizens. According to sources, executives from the two banks recently met to discuss a deal for RBS Citizens, which has almost 1,400 branches and $122 billion in assets. Royal Bank of Scotland remains 81% owned by the British government after a vast bailout at the height of the global financial crisis.

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