PROVIDENCE, R.I. -- Citizens Financial Group, the Providence-based U.S. banking unit of Royal Bank of Scotland Group PLC, reported pre-tax profits of $40.2 million for the six months through March 31, up 28% from a year earlier.

Royal Bank's chairman, Lord Younger, said the Scottish banking group's three main businesses - banking in Britain, retail financial services, and U.S. banking - had made "an excellent start to the year."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.