Citizens Financial Group in Providence, R.I., is expanding its commercial banking operations to lend to more midsize companies in more parts of the country.
The company said it is planning to add about 70 commercial bankers in Atlanta, Charlotte, N.C., Dallas, Los Angeles and Washington. Previously, Citizens focused primarily on the New England, Mid-Atlantic and Midwestern markets.
Citizens, the U.S. unit of Royal Bank of Scotland, is focusing its growth efforts on the health care, technology and franchising sectors, according to a news release Wednesday. Additionally, it has hired more staff in specialty areas such as lender finance, treasury services and global markets.
"We have grown from a bank with a strong but regionally focused commercial banking division to a top lead arranger of syndicated loans for middle-market companies," Robert Matthews, the vice chairman for commercial banking, said in the release.
Citizens is in the process of being spun off by RBS through a series of offerings in 2015 and 2016. RBS filed an initial public offering for Citizens in May.
Furthermore, Citizens is planning to rename its commercial banking division Citizens Commercial Banking during the fourth quarter.