Insurance Arm flotation plan
RBS is hoping to float its insurance business, which employs nearly 4,000 people in Yorkshire, in the second half of 2012.
The group has to sell the business, which includes the Direct Line, Churchill, Green Flag and Privilege brands, in order to satisfy EU rules on state aid.
RBS said it expected 2010 would be a “bounce back year” for the division, which employs 3,000 in Pudsey and Leeds, 700 in Doncaster, 150 in Wakefield and 60 in Sheffield.
RBS believes a separate listing of the business is the most likely outcome but it may consider a trade sale.