Royal Bank of Scotland

From Wikicompany

Royal Bank of Scotland plc is one of Scotland's four national clearing banks.

Royal Bank of Scotland is the largest bank in Scotland, the second largest in the UK and Europe, and the fifth largest in the world by market capitalisation.

The bank has offices throughout Europe, America and Asia, and the annual gross profits exceeds the annual budget of the Scottish Government.

The Royal Bank of Scotland still prints its own British banknotes for Scotland, and is the only UK bank that still prints a 1 pound note.

Subsidiaries

• NatWest - UK clearing bank, head office in London
• Adam and Company - UK private bank
• Citizens Financial Group - United States bank group based in New England
• Direct Line - Telephone financial services company
• Ulster Bank - Belfast based bank with branches throughout Ireland
• Coutts and Company- UK private bank based in London
• WorldPay - Internet based payment business

History

The bank founded in Edinburgh in 1727 by Royal Charter, is one of the oldest banks in the UK.

• 1727 founded in Edinburgh by Royal Charter;
• 1783 first branch in Glasgow opens;
• 1874 first London branch opens;
• 1920 acquisition of various small English banks to form Williams Deacons Bank,later combined with Glyn Mills & Co. to form Williams and Glyn's Bank
• 1972 merger with National Commercial Bank of Scotland
• 1980 abortive hostile takeover bid by Hong Kong and Shanghai Banking Corporation fails
• 1985 established the Direct Line insurance brand
• 1985 Williams and Glyn's bank name merged with the Royal Bank of Scotland
• 1988 acquisition of Citizens Financial Group of Rhode Island.
• 1997 develops internet banking. The Royal Bank of Scotland became the first high street bank in the UK to introduce an Internet banking service.
• 2000 acquisition of the National Westminster Bank after hostile takeover battle with the Bank of Scotland.

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