Citizens in R.I. Expands Health Care Practice Group

Citizens Financial Group in Providence, R.I., is expanding its health care practice banking group for the second time this year.

The $131.3 billion-asset company said Wednesday that its unit that works with medical, dental and eye care practices and professionals will now offer services in New York, Michigan and Ohio. The group was first introduced in January 2013 in Massachusetts, Connecticut and Rhode Island. It started making loans in New Jersey, Pennsylvania and Delaware in July.

Citizens hired three lenders for the division: Deborah Shepherd, who was recently a senior healthcare business banker at PNC Financial; Lynn Valade, also from PNC; and Michael Duffy, a former sales manager at Healthcare Professional Funding.

"Our team's expertise is driving our expansion as more and more practice groups seek out our products and services," Quincy Miller, president of business banking for Citizens Financial Group, said in a press release.

Last year Citizens' parent company, Royal Bank of Scotland, said it would spin off Citizens and use the proceeds from the sale largely to repay the British government for bailing it out at the height of the financial crisis. RBS filed for the unit's initial public offering in May. Citizens is expected to be fully independent by 2016.