NatWest Group has secured approval from the US Federal Reserve to set up an office in Connecticut as it the bank formerly known as RBS makes a fresh move into the US market, according to a report by Dow Jones Newswires.

NatWest Group has received permission to establish a representative office in Stamford, Connecticut, the report said.

“It would promote and market the bank’s products and services, conduct customer service activities, and perform back-office functions,” the Federal Reserve said.

The report said NatWest Group is already a US-licensed broker-dealer in Stamford, but the new office will allow it to employ staff to support new and existing customers.

However, the new license doesn’t allow deposit-taking activities in the US.

The approval is the first significant attempt by NatWest-RBS to re-enter the US market since the 2008-09 financial crisis.