Chancellor George Osborne has welcomed RBS’s move to decrease its international investment arm after the bank announced plans to float part of its American bank Citizens.
Osborne said: “The Government's strategy is for RBS be a stronger and safer bank, which in time can be returned to full private ownership.
"I have been very clear that I want to see RBS as a British-based bank, focused on serving British businesses and consumers, with a smaller international investment bank to support that activity rather than to rival it.
"I welcome RBS's announcement today to accelerate that strategy.”
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