Charter One, a Royal Bank of Scotland Group unit that’s the 12th biggest deposit gatherer in the Chicago area, said it has laid off a “handful” of Illinois employees after a review of its commercial real estate lending division.
“Charter One is committed to commercial real estate in this market,” said Stacey Sather, a spokeswoman for Charter One in Chicago. But “the industry has been under stress and will likely to continue to be.”
Charter One, which has 113 Chicago-area branches and deposit market share of 2 percent, is “reallocating resources to other parts of the business where there is high-growth opportunity,” she said.