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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 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.
Lombard was one of the town's biggest employers and remained so for a number of years. In February 2000, National Westminster Bank was acquired by The Royal Bank of Scotland (RBS) and two of RBS' subsidiaries, RoyScot Trust and Royal Bank Leasing, were merged into Lombard. RBS Group was renamed NatWest Group in 2020.
On 11 February 2000, The Royal Bank of Scotland was declared the winner in the takeover battle, becoming the second largest banking group in the UK after HSBC Holdings. [16] NatWest as a distinct banking brand was retained, although many back-office functions of the bank were merged with the Royal Bank's, leading to over 18,000 job losses ...
In March 2018, it was revealed that the then Royal Bank of Scotland Group were planning to establish a digital banking brand to rival services offered by newly established and tech-focused challenger banks. [1] The name of the new banking brand, Bó, was announced in September 2018. [2]
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It was founded in Croydon by Martin Long and Peter Wood in 1985 as the insurance division of Royal Bank of Scotland. [1] In 1988, it started to sell home insurance. Direct Line is renowned for having transformed financial services in the United Kingdom. [2]
Petroleum related industries associated with the extraction of North Sea oil have also been important employers from the 1970s, especially in the north-east of Scotland. Edinburgh is the financial services centre of Scotland, with many large banking and finance firms based there, including the Bank of Scotland , Lloyds Banking Group (owners of ...