Royal Bank of Scotland PLC may try to hold on to Citizens Financial Group, its Providence, R.I., banking unit, analysts said last week after reports swirled that the embattled Edinburgh company might sell Charter One Financial Inc.

The British media reported last week that Royal Bank is looking to sell Cleveland-based Charter One — which Citizens, its U.S. subsidiary, bought in 2004 — as part of an effort to sell noncore assets in Asia and the United States and appease U.K. regulators, the company's biggest stakeholder.

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