The new name is RBS Citizens Financial Group, which tacks on the initials of Citizens’ British parent company, Royal Bank of Scotland Group. The change was made earlier this year “to create better alignment with our brands,” Citizen spokesman Jim Hughes told WPRI.com.
“Our commercial banking division operates under the RBS Citizens brand and we also do business in auto lending as RBS Citizens,” Hughes said. “Citizens Bank and Charter One remain our brands for consumer and small-business banking.”
RBS bought Citizens in 1988 and is now under pressure from British regulators to sell the profitable American division as it tries to recover from the financial crisis.
• Related: Full coverage of a possible Citizens Financial Group sale (Nov. 28 to Aug. 6)