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Child & Co. is a historic private bank in the United Kingdom, later integrated into the RBS division of the NatWest Group. [1] The bank operated from its long-standing premises at 1 Fleet Street, on the western edge of the City of London, near the Temple Bar Memorial and opposite the Royal Courts of Justice.
The company pioneered the offset mortgage in the UK; it was conceived as a joint venture between Virgin Direct (Virgin's financial services company) and The Royal Bank of Scotland in 1997. Initially, the company was known as the 'Virgin One account' and promoted to Virgin Direct's 200,000 strong UK customer base.
82 percent of Royal Bank of Scotland's shares were acquired by the UK government as part of the 2008 United Kingdom bank rescue package. The UK Government bought Royal Bank of Scotland stock for £42 billion, representing 50 pence per share. In 2011, the shares were worth 19 pence, representing a taxpayer book loss of £26 billion.
NatWest Group plc [1] is a British banking and insurance holding company, based in Edinburgh, Scotland.. The group operates a wide variety of banking brands offering personal and business banking, private banking, investment banking, insurance and corporate finance.
NatWest Offshore Limited was an Isle of Man-incorporated bank formed in 1997, with branches in Jersey, Guernsey and Gibraltar.The business was transferred to RBS International through private members' legislation passed in each of the four jurisdictions in 2001, with RBS retaining NatWest as a trading name as well as continuing its existing business.
The name of the new banking brand, Bó, was announced in September 2018. [2] Following a period of beta testing by RBS Group employees, Bó was launched to the public on 27 November 2019. [ 3 ] The development of Bó was estimated as costing £100 million.
In 1992, RBS Holt's branch in Whitehall was absorbed by the London Drummonds branch; it continues to operate as Holt's Military Banking, based in Farnborough, offering personal banking tailored to the needs of navy, army and air force officers. At the same time, the Royal Bank of Scotland revived Drummonds as a specialist in private banking. [3]
The Royal Bank of Scotland's office at 1 Fleet Street, London – trading under the historic name Child & Co.. After the purchase of NatWest, RBS made a string of further acquisitions around the world, including the purchase of Irish mortgage provider First Active and UK insurers Churchill Insurance and Direct Line.