Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: June 30, 2003

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.

Attachment (104 KB PDF)

2003 Orders on banking applications

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Last update: June 30, 2003