| For immediate release |
| The Federal Reserve Board on Monday announced its approval of the application
by The Royal Bank of Scotland Group plc, The Royal Bank of Scotland plc,
RBSG International Holdings Ltd., all in Edinburgh, Scotland, and Citizens
Financial Group, Inc., Providence, Rhode Island, pursuant to section 3 of
the Bank Holding Company Act to acquire all the voting shares of Port Financial
Corp., Brighton, Massachusetts, and thereby indirectly acquire Cambridgeport
Bank; and up to 9.9 percent of Cambridge Bancorp, which controls Cambridge
Trust Company, all in Cambridge, Massachusetts. Attached is the Board's Order relating to this action. |
2003 Orders on banking applications