Royal Bank of Scotland caused a stir in the equity markets last month when it unveiled plans to purchase Ohio-based retail bank Charter One Financial in a cash deal worth $10.5 billion. This isn?t the first time the Edinburgh-based bank has shown a taste for M&A. Notably, its hostile takeover of UK rival NatWest in 2000 made it the fifth-largest bank in the world by market capitalization.
The acquisition will be made through RBS subsidiary Citizens Financial, and will make it one of the 10 largest commercial bank holding companies in the US.
Thanks for your interest in Euromoney!
To unlock this article:
