VENTURE CAPITAL POST

The biggest U.S. bank listing since the financial crisis got a lukewarm reception from investors, forcing Royal Bank of Scotland RBS.L to cut the price of shares sold in Citizens Financial Group CFG.N.

State-backed Royal Bank of Scotland (RBS.L) plans to raise up to $4 billion from the share flotation of its U.S. bank Citizens Financial Group this month, putting it on track to be the biggest U.S. share offering by a bank this year.

Citizens Financial Group, a unit of the Royal Bank of Scotland, said it had agreed to exit its Chicago area retail branches and small business operations to US Bancorp.

Royal Bank of Scotland US subsidiary Citizens Financial Group is bidding out nearly 105 branches with USD6 billion in deposits and USD2.4 billion in loans.