Citizens loans $35M to parent of Ross-Simons and Sidney Thomas

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CITIZENS BANK is a wholly owned subsidiary of Providence-based Citizens Financial Group Inc. The bank posted net income of $1.7 billion in 2017, a 58.1 percent increase on its 2016 performance. / BLOOMBERG FILE PHOTO/KELVIN MA
CITIZENS BANK is a wholly owned subsidiary of Providence-based Citizens Financial Group Inc. The bank posted net income of $1.7 billion in 2017, a 58.1 percent increase on its 2016 performance. / BLOOMBERG FILE PHOTO/KELVIN MA
PROVIDENCE – Citizens Bank has provided a $35 million credit facility to Luxury Brand Holdings Inc., parent company of the jewelry brands Ross-Simons and Sidney Thomas. Luxury Brand Holdings, based in Cranston, borrowed the money for working capital and “general corporate growth purposes,” according to an announcement. Ross-Simons, established in 1952, is a multichannel global…

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