Royal Bank of Scotland has unveiled plans to begin the process of selling some of its US business, Citizens.
Announcing its 2012 annual figures, the bank said in a statement:
The board has decided it is now the right time to begin work on a partial flotation of Citizens, our US banking business, targeted probably at around two years from now.
Citizens is a good business, serving around 5 million customers in the north east of the United States where it is has a strong market position.
It has been substantially improved since 2009 and a local public listing will help to highlight its growing value.
More top news
Labour leader Jeremy Corbyn has appeared in the House of Commons wearing a 'heart unions' badge.
David Cameron says WikiLeaks founder Julian Assange should leave the Ecuadorian embassy and face the allegations of rape against him.
The health secretary says he hopes he does not have to enforce junior doctors' contracts, as second wave of strikes takes place.