National Westminster Bank, commonly known as NatWest, is a large
retail and commercial bank in the United Kingdom. It was established
in 1968 by the merger of
National Provincial Bank
National Provincial Bank (established 1833 as
National Provincial Bank
National Provincial Bank of England) and
Westminster Bank
Westminster Bank (established
1834 as London County and Westminster Bank). Since 2000 it has been
part of the Royal Bank of
Scotland
Scotland Group. Following "ring-fencing" of
the Group's core domestic business, the bank is a direct subsidiary of
NatWest
NatWest Holdings.
NatWest Markets comprises its investment banking
arm.
NatWest
NatWest is considered one of the Big Four clearing banks in the UK,[1]
and it has a large network of over 960 branches[2] and 3,400 cash
machines across Great Britain and offers 24-hour Actionline telephone
and online banking services. Today it has more than 7.5 million
personal customers and 850,000 small business accounts. In Ireland it
operates through its
Ulster Bank
Ulster Bank subsidiary.
In 2017,
NatWest
NatWest was awarded 'Best Banking App' in the British Bank
Awards.[3]
Contents
1 History
1.1 Expansion
1.2 Controversy
1.3 Takeover
1.4 Attempted divestment
1.5 Recent developments
2 Structure
3 Services
4 Litigation
5 Computer failures
6 Sponsorship
7 See also
8 References
9 External links
History[edit]
Further information: National Provincial Bank, Westminster Bank, and
District Bank
The
NatWest
NatWest branch at Leighton Buzzard, Bedfordshire, an example of
Neo-Renaissance
Neo-Renaissance architecture.
The bank's origins date back to 1658 with the foundation of Smith's
Bank of Nottingham.[4] The creation of the modern bank was announced
in 1968, and National
Westminster Bank
Westminster Bank Limited commenced trading on 1
January 1970, after the statutory process of integration had been
completed in 1969.[5] The famous three arrowheads symbol was adopted
as the new bank's logo; it is said to symbolise either the circulation
of money in the financial system or the bank's three constituents,
National Provincial Bank, Westminster Bank, and District Bank
(established 1829):[6] the latter had been taken over by National
Provincial Bank in 1962 and was allowed to operate under its own name
until the formation of National Westminster Bank. The District,
National Provincial, and Westminster Banks were fully integrated in
the new firm's structure, but
Coutts
Coutts & Co. private bankers (a 1920
National Provincial acquisition, established 1692),
Ulster Bank
Ulster Bank in
Northern Ireland (a 1917 Westminster acquisition, established 1836)
and the
Isle of Man Bank
Isle of Man Bank (a 1961 National Provincial acquisition,
established 1865) continued as separate operations. Westminster
Foreign Bank (established 1913) was restyled International Westminster
Bank in 1973. Duncan Stirling, outgoing chairman of Westminster Bank,
became first chairman of the fifth largest bank in the world.[7] In
1969 David Robarts, former chairman of National Provincial, assumed
Stirling's position.[8] In 1975 it was one of the first London banks
to open a representative office in Scotland. It was a founder member
of the Joint Credit Card Company (with Lloyds Bank,
Midland Bank
Midland Bank and
Williams & Glyn's Bank) which launched the Access credit card (now
part of MasterCard) in 1972 and in 1976 it introduced the Servicetill
cash machine. The same banks, excluding Lloyds, were later responsible
for the introduction of the Switch debit card (later branded Maestro)
in 1988.[9]
Expansion[edit]
The circular banking hall at Castle Street, Liverpool, a Grade II*
listed building.
Deregulation in the 1980s, culminating in the Big Bang in 1986, also
encouraged the bank to enter the securities business. County Bank, its
merchant banking subsidiary formed in 1965, acquired various
stockbroking and jobbing firms to create the investment banking arm
County NatWest. National Westminster Home Loans was established in
1980 and other initiatives included the launch of the Piggy Account
for children in 1983, the Credit Zone, a flexible overdraft facility
on which customers only pay interest (now commonplace, this so-called
pink debt was innovative when launched) and the development of the
Mondex
Mondex electronic purse (later sold to
MasterCard
MasterCard Worldwide) in
1990.[10] The Action Bank advertising campaign spearheaded a new
marketing-led approach to business development. Under the direction of
Robin Leigh-Pemberton, later Lord Kingsdown, who became chairman in
1977, the bank also expanded internationally, forming National
Westminster Bancorp in the United States of America with a network of
340 branches across two states, National
Westminster Bank
Westminster Bank of Canada
and
NatWest
NatWest Australia Bank; and opening branches on the European
continent and in the Far East.[11] In 1982, the
Frankfurt
Frankfurt office of
International
Westminster Bank
Westminster Bank merged with Global Bank AG to form
Deutsche Westminster Bank. In 1985,
Banco NatWest España
Banco NatWest España was formed
and National
Westminster Bank
Westminster Bank SA was incorporated in 1988, taking over
the bank's six branches in France and Monaco. In 1989, International
Westminster Bank
Westminster Bank was merged into National
Westminster Bank
Westminster Bank by Act of
Parliament.
The former
NatWest
NatWest Tower (now known as Tower 42), from the junction of
Bishopsgate
Bishopsgate with
Leadenhall Street
Leadenhall Street in the City of London.
Completed in 1980, the bank built the
National Westminster Tower
National Westminster Tower (now
known as Tower 42) in London to serve as its international
headquarters. At a height of 600 feet (183 m) it was the tallest
building in the UK until the topping-out of Canary Wharf Tower 10
years later;[12] its footprint loosely approximating the bank's logo
when viewed from the air,[13] although the architect claimed the
similarity was coincidence.[14] Also worthy of note is National
Westminster House (since renamed as 103 Colmore Row) in Birmingham:
the building was sold to
British Land
British Land in 2007[15] and demolished in
2015.
Controversy[edit]
The bank's expansion strategy hit trouble with the stock market crash
of 1987 and involvement in the financial scandal surrounding the
collapse of Blue Arrow. The Department of Trade and Industry report on
the affair was critical of the bank's management and resulted in the
resignation of several members of the board, including then chairman
Lord Boardman.[16] Later, the bank would divest its overseas
subsidiaries. The North American operations were sold to Fleet Bank
and Hong Kong Bank of Canada, and the Australian and New Zealand
branches were sold to
Salomon Smith Barney
Salomon Smith Barney and the National Australia
Bank.[17] Thereafter the bank concentrated on its core domestic
business as the restyled
NatWest
NatWest Group, reflecting its modern
positioning as a portfolio of businesses.[18] In 1993, the NatWest
Tower was devastated by a
Provisional IRA
Provisional IRA bomb and the bank vacated
the building and later sold it.[19] Then, in 1997,
NatWest
NatWest Markets,
the corporate and investment banking arm formed in 1992, revealed that
a £50m loss had been discovered, revised to £90.5m after further
investigations. Investor and shareholder confidence was so badly
shaken that the
Bank of England
Bank of England had to instruct the board of directors
to resist calls for the resignation of its most senior executives in
an effort to draw a line under the affair.[20] The bank's internal
controls and risk management were severely criticised in 2000 and its
aggressive push into investment banking questioned, after a lengthy
investigation by the Securities and Futures Authority.[21] The bank's
move into complicated derivative products that it did not fully
understand seemed to indicate poor management. By the end of 1997
parts of
NatWest Markets had been sold, others becoming Greenwich
NatWest
NatWest in 1998.[22]
Takeover[edit]
The old Town Hall at Ealing, London, built by Charles Jones in 1872,
now a
NatWest
NatWest branch.[23]
In 1999, the chairman, Lord Alexander of Weedon, announced a merger
with Legal & General in a friendly £10.7 billion deal, the
first between a bank and an insurance company in UK history.[24] The
move was poorly received in the London financial markets and NatWest's
share price fell substantially.[25] Seen as a driver of the
ill-advised investment banking expansion,
Derek Wanless
Derek Wanless was forced to
resign as chief executive following the appointment of Sir David
Rowland (who became executive chairman).[26] Also in 1999, in response
to the much reduced
NatWest
NatWest market capitalisation, the much smaller
Bank of
Scotland
Scotland made a hostile takeover bid for NatWest. The Bank of
Scotland's aim was to break up the
NatWest
NatWest Group and dispose of its
non-retail assets.
NatWest
NatWest was forced to abandon its merger, but
refused to agree to a takeover by a rival bank.[27] The Royal Bank of
Scotland
Scotland tabled another hostile offer and trumped the Bank of Scotland
with a £21 billion bid.[28] The takeover of
NatWest
NatWest in early
2000 was the biggest in UK history. National Westminster Bank, once
Britain's most profitable bank, was delisted from the London Stock
Exchange and became, with its subsidiaries, component parts of the
Royal Bank of
Scotland
Scotland Group.[29] The outcome of this bitter struggle
set the tone for a round of consolidation in the financial sector as
it prepared for a new age of fierce global competition.[30] The Royal
Bank of
Scotland
Scotland Group became the second largest bank in the UK and
Europe
Europe (after HSBC) and the fifth largest in the world by market
capitalisation. According to Forbes Global 2000, it was then the 13th
largest company in the world.[31]
NatWest
NatWest was retained as a distinct
brand with its own banking licence, but many back office functions
were merged with those of the Royal Bank, leading to over 18,000 job
losses.
Attempted divestment[edit]
Further information: Williams & Glyn
In 2008, it was announced that
HM Government
HM Government would take a stake of up
to 58% in the Royal Bank of
Scotland
Scotland in a move aimed at recapitalising
the Group.
HM Treasury
HM Treasury subscribed for £5 billion in preference
shares and underwrote the issuance of £15bn of new ordinary shares
offered to RBS shareholders and new institutional shareholders at the
fixed price of 65.5p.[32] As a consequence of the mismanagement which
necessitated this rescue, the chief executive,
Fred Goodwin
Fred Goodwin (who
secured the takeover of NatWest), offered his resignation, which was
duly accepted. Chairman
Sir Tom McKillop
Sir Tom McKillop also confirmed he would stand
down from that role when his contract expired in 2009. Goodwin was
replaced by Stephen Hester, previously chief executive of British
Land.
In 2009 the RBS Group announced that it would divest all 311 RBS
branches in
England and Wales
England and Wales (until 1985, Williams and Glyn's)
together with the seven
NatWest
NatWest branches in
Scotland
Scotland as a standalone
business, to comply with
European Commission
European Commission state aid
requirements.[33][34] In August 2010, it was announced that the
branches would be sold to Santander UK, along with the accounts of
1.8 million personal customers and 244,000 SME customers.[35]
Santander withdrew from the sale in October 2012.[36] On 27 September
2013, the RBS Group confirmed it had agreed to sell 308 RBS branches
in
England and Wales
England and Wales and 6
NatWest
NatWest branches in
Scotland
Scotland to the Corsair
consortium. This figure was reduced to 307 by May 2015.[37] The
branches were to have been separated from the group in 2016 as a
standalone business operating under the previously dormant Williams
& Glyn's brand.[38]
In August 2016, RBS cancelled its plan to spin off Williams & Glyn
as a separate business, stating that the new bank could not survive
independently. It revealed it would instead seek to sell the division
to another bank.[39] In February 2017,
HM Treasury
HM Treasury and the European
Commission reached a provisional agreement in which RBS would be able
to retain the Williams & Glyn assets in return for investing £750
million into a fund aimed at increasing SME lending by challenger
banks and for RBS agreeing to allow SME customers of challenger banks
to use its branch network for cash and cheque handling.[40] The
European Commission
European Commission confirmed in April 2017 that it would scrutinise
the proposal.[41]
Recent developments[edit]
On March 20, 2017 the British paper
The Guardian
The Guardian reported that
hundreds of banks had helped launder KGB-related funds out of Russia,
as uncovered by an investigation named Global Laundromat.
NatWest
NatWest was
listed among the 17 banks in the UK that were “facing questions over
what they knew about the international scheme and why they did not
turn away suspicious money transfers,” as the bank processed $1.1
million in Laundromat cash. Other banks facing scrutiny under the
investigation included HSBC, the Royal Bank of Scotland, Lloyds,
Barclays
Barclays and Coutts.[42]
Structure[edit]
The old court house at Ruthin, Denbighshire, built in 1401, now a
NatWest
NatWest branch.[43]
The
Royal Bank of Scotland Group
Royal Bank of Scotland Group Plc operates internationally through
its two principal subsidiaries, the Royal Bank (in Scotland) and
NatWest
NatWest (in England and Wales).[44] The
NatWest
NatWest group of companies
comprises National
Westminster Bank
Westminster Bank and its subsidiary and associated
undertakings.[45] As of 2013[update], the principal subsidiary
undertakings of
NatWest
NatWest are:
Coutts
Coutts & Co., part of RBS Group Wealth Management, incorporating
Coutts
Coutts & Co. Ltd. (formerly
Coutts
Coutts Bank von Ernst Ltd. and, from
2008 to 2011, RBS
Coutts
Coutts Bank Ltd., trading as RBS Coutts
International), Zurich;[46]
RBS Securities
RBS Securities Inc., previously Greenwich Capital Markets Inc.,
broker/dealer, trading as RBS Greenwich Capital (formerly Greenwich
NatWest) in the US;[47] and
Ulster Bank
Ulster Bank Limited, incorporating, from 2001,
Ulster Bank
Ulster Bank Ireland DAC
in the Republic of Ireland.[48]
Structurally, National
Westminster Bank
Westminster Bank was a wholly owned subsidiary
of The
Royal Bank of Scotland Group
Royal Bank of Scotland Group until January 2003, when ownership
of the bank's entire issued ordinary share capital was transferred to
The Royal Bank of
Scotland
Scotland Plc, as holding company. The Royal Bank of
Scotland
Scotland Group is now the ultimate holding company of both banks. At
that time the entire issued share capital of
Lombard North Central Plc
was transferred by the bank to the holding company.[49] Ownership of
National Westminster Home Loans Limited was passed to the holding
company in December 2005;[50] the mortgage portfolio and related
funding were transferred back to
NatWest
NatWest in October 2012.[51] In
December 2000 the bank transferred National Westminster Life Assurance
Limited to RBS Life Investments Limited, effectively establishing the
business as a joint venture between the Group and Norwich Union.[52]
The
NatWest
NatWest branch at St Helier, capital of Jersey, Channel Islands,
built in 1873.
The following have served as chairmen of National Westminster Bank:
Tenure
Incumbent
1968–1969
Duncan Stirling
1969–1971
David Robarts[53]
1971–1977
Sir John Prideaux[54]
1977–1983
Robin Leigh-Pemberton, later the Lord Kingsdown KG, PC[55]
1983–1989
The
Lord Boardman
Lord Boardman MC, TD, DL[56]
1989–1999
The
Lord Alexander of Weedon
Lord Alexander of Weedon QC, FRSA[57]
1999–2000
Sir David Rowland
The office is currently held ex officio by the chairman of The Royal
Bank of
Scotland
Scotland Bank Group.
Services[edit]
The
NatWest
NatWest branch at Camden Town, London, NW1.
NatWest
NatWest provide a full range of banking and insurance services to
personal, business and commercial customers, including the first
dedicated bank account in Britain to be delivered and supported
entirely in the Polish language.[58] The bank has won Your Mortgage
Magazine's Best Bank for
Mortgages
Mortgages award 13 times in the last 17
years, more than any other lender.[59]
The bank operates "mobile branches" using converted vans to serve
rural areas around St Austell, Swansea, Carlisle, Devon and North
Wales.[60][61] The service allows to customers to carry out banking
transactions in remote areas where there is no branch. NatWest
reintroduced the mobile service in Cornwall in 2005, after
HSBC
HSBC ended
its own version due to costs.[62]
In 2006, The
Royal Bank of Scotland Group
Royal Bank of Scotland Group undertook the first trial of
PayPass contactless debit and credit cards in Europe.[63] The bank is
introducing
Visa Debit
Visa Debit cards with the technology for current accounts,
which can be used to pay for purchases up to £30 by tapping an
enabled card on the retailer's terminal.[64] In an effort to enhance
security, hand-held devices for use with a card to authorise online
banking transactions were introduced in 2007. These card readers do
not retain personal information but verify numbers during a
transaction.[65]
The bank participates fully in the Faster Payments Service, an
initiative to speed up certain payments, launched in 2008.[66] The
bank established credit and debit card payment handling company
Streamline in 1989, which was merged into RBS
WorldPay
WorldPay in 2009.[67]
The
NatWest
NatWest Mobile Banking app is available to personal account
holders over the age of 11 with online banking, a debit card and UK
mobile telephone number (beginning 07). The Emergency Cash service
gives access to cash without a debit card from NatWest, RBS and Ulster
Bank cash machines.[68]
NatWest
NatWest is a member of the
Cheque and Credit Clearing Company
Cheque and Credit Clearing Company Limited,
Bankers' Automated Clearing Services Limited, the Clearing House
Automated Payment System Limited and the LINK Interchange Network
Limited. The bank is authorised by the Prudential Regulation Authority
and regulated by both the
Financial Conduct Authority
Financial Conduct Authority and the
Prudential Regulation Authority.[69] It is a member of the Financial
Ombudsman Service, the
Financial Services
Financial Services Compensation Scheme, UK
Payments Administration and of the British Bankers' Association; it
subscribes to the Lending Code. Mortgages, available in England,
Scotland
Scotland and Wales only, are provided by National Westminster Home
Loans Limited, a member of the Council of Mortgage Lenders,[70] the
NatWest
NatWest One account is a secured personal account with the Royal Bank
of
Scotland
Scotland Plc. The Spanish Mortgage is provided by Adam and Company
Plc, a subsidiary of the Royal Bank of Scotland, trading as NatWest.
NatWest
NatWest Insurance Services is a trading name of RBS Business Insurance
Services Limited, acting as intermediary and broker for general
insurance. Life Protector and Guaranteed Bond products are provided by
National Westminster Life Assurance Limited.[71] RBS International
trades as
NatWest
NatWest Offshore in Jersey, Guernsey, the
Isle of Man
Isle of Man and
Gibraltar. In 2010, RBS Intermediary Partners was renamed NatWest
Intermediary Solutions.[72]
National
Westminster Bank
Westminster Bank use the following series of six digit
sorting codes formatted into three pairs separated by hyphens:
Range
Note
01
former
District Bank
District Bank Ltd.
50-00 to 59-99
former
National Provincial Bank
National Provincial Bank Ltd.
55-91
in use by
Isle of Man Bank
Isle of Man Bank Ltd.
60-00 to 66-99
former
Westminster Bank
Westminster Bank Ltd.
18
for use of
Coutts
Coutts & Co.
98
for use of
Ulster Bank
Ulster Bank Ltd.
International Bank Account Numbers take the form GBxx NWBK ssss ssaa
aaaa aa, where x refers to a check digit, s to the branch sort code
and a to the individual account number. The Bank Identifier Code, or
SWIFT code, for
NatWest
NatWest (and
Isle of Man
Isle of Man Bank) is NWBKGB2L (8 digits)
or NWBKGB2Lxxx (11 digits).
Litigation[edit]
The so-called
NatWest Three — Giles Darby, David Bermingham and Gary
Mulgrew — were extradited to the United States in 2006 on charges
relating to a transaction with
Enron Corporation
Enron Corporation in 2000 while they
were working for Greenwich NatWest.[73] It has been argued that the
alleged crime was committed by British citizens living in the UK
against a British company based in London[74] and therefore, any
resulting criminal case falls under the jurisdiction of the English
courts.[75] However, the Serious Fraud Office decided not to prosecute
due to lack of evidence.[76] There has been criticism that the
Americans do not have to produce a prima facie case, or even a
reasonable one, to extradite British citizens,[77] whereas no such
facility exists to extradite US citizens to the UK.[78] On 28 November
2007 the three admitted one charge of wire fraud after a plea
bargain.[79] On 22 February 2008 they were each sentenced to 37 months
in prison.[80]
Following discussions between the Office of Fair Trading, the
Financial Ombudsman Service, the
Financial Services
Financial Services Authority and the
major banks, proceedings were issued on 27 July 2007 in a test case
against the banks to determine the legality and enforceability of
certain charges relating to unauthorised overdrafts. It is argued that
these are contrary to the Unfair Terms in Consumer Contracts
Regulations 1999; Schedule 2(e) of which gives a non-exhaustive list
of terms which may be regarded as unfair, such as a term requiring a
consumer who fails in his obligation to pay a disproportionately high
sum in compensation.[81] Penalty charges are irrecoverable at common
law. The precedent for this was Dunlop Pneumatic Tyre Co. Ltd. v New
Garage and Motor Co. Ltd. [1915] AC 79 along with Murray v Leisure
Play [2005] EWCA Civ 963, where it was held that a contractual party
can only recover damages for an actual loss or liquidated losses.[82]
The
Royal Bank of Scotland Group
Royal Bank of Scotland Group maintained that its charges were fair
and enforceable and stated it intended to defend its position
vigorously.[83] On 24 April 2008, the High Court found that although
these charges could not constitute penalties, they are challengeable
under the
Unfair Contract Terms Act 1977
.svg/280px-Royal_Coat_of_Arms_of_the_United_Kingdom_(HM_Government).svg.png)
Unfair Contract Terms Act 1977 and the Unfair Terms in
Consumer Contracts Regulations 1999.[84] On 26 February 2009, the
Court of Appeal ruled that fees for unauthorised overdrafts and
bounced cheques are subject to regulation by the OFT under these
rules.[85]
In September 2009,
NatWest
NatWest and RBS both announced dramatic cuts in
their overdraft fees. The unpaid item fee was reduced to £5 from £38
and the card misuse fee was reduced from £35 to £15.[86] The cuts
came at a time when the row over the legality of unauthorised
borrowing, estimated to earn current account providers about £2.6bn a
year, had reached the House of Lords.[87]
Computer failures[edit]
Main article: 2012 RBS computer system problems
In late June 2012, the group suffered a major computer
malfunction,[88] resulting in some customers' account balances not
updating correctly.[89] Completions of some new home purchases were
delayed,[90][91] customers were stranded abroad,[92] another was
threatened with the discontinuation of her life support machine in a
Mexican hospital,[93] and one man was held in prison.[94] As a result
of the error, RBS and
NatWest
NatWest announced that over 1,200 of their
busiest branches would extend their hours throughout the week,
including the bank's first Sunday opening, to enable the customers
affected to access cash.[95] On 25 June, over 1,000 branches opened
for extended hours,[95] and the number of phone staff was doubled.[96]
Some customers also reported problems with direct debits and standing
orders being returned unpaid due to their account balances not
updating correctly, however RBS said in an announcement that they
would work directly with the receiving banks and companies to ensure
that all payments were processed. As a result of the system outage,
RBS also announced that they would work with credit rating agencies
directly to ensure no customer's credit file was permanently impacted.
They also announced that no customer will be permanently out of pocket
because of the system outage, and launched a dedicated new freephone
helpline for the incident, as well as an online help point to guide
and advise customers with any queries they had during the outage.[97]
In December 2013, a similar computer failure led to a number of
customers unable to use
NatWest
NatWest card services to pay for goods. This
second major outage of services fell on what is known as Cyber Monday,
where major retailers discount goods to boost Christmas shopping. The
chief executive of RBS Group admitted the bank would have "to do
better".[98]
Sponsorship[edit]
The name
NatWest
NatWest has been associated with two limited overs cricket
tournaments held in England. From 1981 until 2000, the bank was the
title sponsor of English domestic cricket's main limited-overs
knockout tournament, which was known as the
NatWest
NatWest Trophy during that
period. Since 2000, the
NatWest Series
NatWest Series has been an annual one-day
international tournament involving England and two visiting
international teams.
NatWest
NatWest were also a main sponsor of the 1999
Cricket World Cup, held in England.
NatWest
NatWest is sponsor of the Southern Paintball League, the leading
competitive paintball series in the south of England.
NatWest
NatWest has been the main sponsor of the
Island Games
Island Games (known as the
NatWest
NatWest Island Games) since 1999 and will continue to sponsor the
event until 2019, having sponsored the games for 20 years.
NatWest
NatWest CommunityForce is "a platform that empowers local projects and
charities to raise awareness of their work and make their plans a
reality with the support of
NatWest
NatWest and their local community."[99]
See also[edit]
Companies portal
Nestle v National
Westminster Bank
Westminster Bank Plc
National
Westminster Bank
Westminster Bank Plc v Spectrum Plus Limited
Tournier v National Provincial and Union Bank of England
Office of Fair Trading
_(logo).png)
Office of Fair Trading v Abbey National and Others
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^ Profile:
Derek Wanless
Derek Wanless BBC News, 25 February 2004. Retrieved 24
January 2014
^
NatWest
NatWest rejects takeover bid The Guardian, 24 September 1999
^ Farrelly, Paul RBS issues ultimatum in £27bn bid for
NatWest
NatWest The
Observer, 28 November 1999
^ Treanor, Jill
NatWest
NatWest runs up white flag The Guardian, 12 February
2000
^
NatWest
NatWest takeover battle BBC News, 11 February 2000. Retrieved 24
January 2014
^ DeCarlo, Scott (ed.) The World's 2,000 Largest Public Companies
Forbes,
Special
Special Report, 29 March 2007
^ "UK banks' £37bn bail-out unveiled". BBC News. 13 October 2008.
Retrieved 26 September 2013.
^ "RBS shares drop on surprise EU divestment demands". The Telegraph.
2 November 2009. Retrieved 2 November 2015.
^ Dey, Iain RBS to relaunch historic Williams & Glyn's brand after
24 year absence The Sunday Times, 13 September 2009
^ "RBS sells 318 branches to Santander". BBC News. 4 August 2010.
Retrieved 26 September 2013.
^ "RBS sale of 316 branches to Santander collapses". BBC News. 12
October 2012. Retrieved 26 September 2013.
^ Dunkley, Emma (28 May 2015). "RBS may need to beef up Williams &
Glyn business". Financial Times. Retrieved 2 November 2015.
(Subscription required (help)).
^ MacLellan, Kylie; Slater, Steve (13 September 2015). "RBS appoints
BoAML to ready 2016 listing of Williams & Glyn". Reuters.
Retrieved 2 November 2015.
^ "RBS cancels Williams & Glyn project and loses another £2bn".
The Telegraph. 5 August 2016. Retrieved 5 August 2016.
^ James Quinn (17 February 2017). "Royal Bank of
Scotland
Scotland calls halt
to troublesome Williams & Glyn sale after Treasury strikes deal
with Brussels". The Telegraph. Retrieved 18 February 2017.
^ Fraser, Douglas (4 April 2017). "RBS plan faces European Commission
investigation". BBC News. Retrieved 5 April 2017.
^ banks handled vast sums of laundered Russian money in The Guardian
by Luke Harding, Nick Hopkins and Caelainn Barr on Monday, March 20,
2017
^ Kightly, Charles Enjoy Medieval Denbighshire (p.10) Denbighshire
County Council, September 2007
^ "Annual Report and Accounts 2006" (PDF). The Royal Bank of Scotland
Group. 28 February 2007. p. 46 sec. Operating and financial review,
Description of business. Archived from the original (PDF) on 28
February 2008.
^ "Annual Report and Accounts 2006" (PDF). National Westminster Bank.
28 March 2007. p. 32 sec. 'Notes on the accounts, (14) Investments in
Group undertakings. Archived from the original (PDF) on 20 March
2009.
^ Incorporated with unlimited liability. Registered in England and
Wales No. 36695. Authorised and regulated by the FSA, Register No.
122287
^ Shares are not directly held by the bank. Incorporated in the State
of Delaware,
File
File No. 2075209 and registered in
England and Wales
England and Wales No.
FC015070
^ Registered in Northern Ireland No. R733. Authorised and regulated by
the FSA, Register No. 122315
^ "Annual Report and Accounts 2002" (PDF). National Westminster Bank.
27 February 2003. p. 2 sec. Report of the directors, Activities and
business review. Archived from the original (PDF) on 22 October
2006.
^ Annual Report and Accounts 2005 Report of the directors, Activities
and business review (p.2) National Westminster Bank, 29 March 2006
Archived 8 December 2006 at the Wayback Machine.
^ Annual Report and Accounts 2012 Financial review, Business
developments (p.5) National Westminster Bank, 27 March 2013
^ "Annual Report and Accounts 2000" (PDF). National Westminster Bank.
28 February 2001. p. 17 sec. Report of the directors, Activities and
business review. Archived from the original (PDF) on 8 December
2006.
^ David Robarts RBS Heritage Hub. Retrieved 24 January 2014
^ John Prideaux RBS Heritage Hub. Retrieved 24 January 2014
^ Brewerton, David Lord Kingsdown obituary The Guardian, 25 November
2013
^ Roth, Andrew
Lord Boardman
Lord Boardman obituary The Guardian, 12 March 2003
^ Roth, Andrew
Lord Alexander of Weedon
Lord Alexander of Weedon obituary The Guardian, 8
November 2005
^ "
NatWest
NatWest boosts Polish banking". This is Money. 27 October 2009.
Retrieved 27 September 2014.
^ Your Mortgage Magazine Awards 2006–2007 Your Mortgage Magazine, 9
February 2007
^
NatWest
NatWest To Launch Mobile Banking Service NatWest, 27 September 2014
^ "High tech mobile branches bring banking services to more customers"
(Press release). RBS. 24 April 2014. Retrieved 14 April 2016.
^ Prestridge, Jeff (12 July 2005). "
NatWest
NatWest launches rural bank on
wheels". This is Money. Retrieved 27 September 2014.
^
Royal Bank of Scotland Group
Royal Bank of Scotland Group and Mastercard Join Forces for London
Roll-out of Contactless Debit and Credit Cards Archived 12 February
2008 at the Wayback Machine.
MasterCard
MasterCard Europe, Press Release 6, 4 May
2007
^ "Your contactless debit card". National Westminster Bank. 2015.
Retrieved 2 November 2015.
^ Bank issues net security device BBC News, 2 October 2007 13:38 BST
^ Faster Payments – how long? BBC News, 24 May 2008 11:40 BST
^ RBS Launches RBS
WorldPay
WorldPay brand The Royal Bank of Scotland, 18 April
2009
^ Howard, Bob
NatWest
NatWest suspends Get Cash app BBC News, 6 October 2012
15:46 BST
^ "Tax Rates & Allowances 2013–2014" (PDF). National Westminster
Bank. April 2013. Retrieved 30 May 2013.
^ Registered in
England and Wales
England and Wales No. 1449354. Authorised and
regulated by the FSA, Register No. 313223
^ Registered in
England and Wales
England and Wales No. 2668470. Authorised and
regulated by the FSA, Register No. 155329
^ "RBS broker arm becomes
NatWest
NatWest Intermediary Solutions". Mortgage
Solutions. 19 January 2010. Retrieved 2 November 2015.
^
NatWest
NatWest Three: the US indictment BBC News, 12 July 2006 22:51 BST
^ Randall, Jeff Natwest Three caught on extradition's one-way street
The Daily Telegraph, 1 March 2006
^ Try Natwest three in UK – Tories BBC News, 6 July 2006 17:23 BST
^ Enron charge trio facing US trial BBC News, 24 May 2005 16:04 BST
^ King, Oliver Lib Dem leader joins bankers' extradition battle The
Guardian, 4 July 2006
^ Stevenson, Tom Senior executives attack 'invidious, one-sided
treaty' The Daily Telegraph, 6 July 2006
^ Clark, Andrew
NatWest Three plead guilty to wire fraud The Guardian,
28 November 2007
^
NatWest Three face jail sentence BBC News, 29 November 2007 09:10
GMT
^ The
Unfair Terms in Consumer Contracts Regulations 1999
Unfair Terms in Consumer Contracts Regulations 1999 (SI
1999/2083), implements Directive 93/13/EC (L95 OJ 29)
^ Collinson, Patrick Have you been stung by exorbitant bank charges?
The Guardian, 20 February 2007
^ Results for the Half Year Ended 30 June 2007 Notes (6) Litigation
(p.10) National Westminster Bank, 26 September 2007 Archived 9
September 2008 at the Wayback Machine.
^ The
Office of Fair Trading
Office of Fair Trading v Abbey National Plc and seven others
[2008] EWHC 875 (Comm); All ER (D) 349 (Apr)
^ Osborne, Hilary Bank charges ruling paves way for refunds The
Guardian, 26 February 2009
^ Jones, Rupert Royal Bank of
Scotland
Scotland and
NatWest
NatWest cut overdraft
charges The Guardian, 7 September 2009
^ Osborne, Hilary Bank charges appeal reaches
House of Lords
House of Lords The
Guardian, 23 June 2009
^
NatWest
NatWest to open all weekend as problems persist BBC News, 22 June
2012
^ Millions still affected by
NatWest
NatWest and RBS computer glitch The
Telegraph – James Hall, 22 June 2012
^
NatWest
NatWest problems stop non-customers moving into new home The
Guardian – Lisa Bachelor, 22 June 2012
^ Bank boss 'must pay price' for accounts shambles: RBS chief faces
calls to forfeit another bonus as crisis is linked to IT team in
India. Daily Mail.
^ Can I force
NatWest
NatWest or RBS to cover late payment penalties I get hit
with because of its banking meltdown? This Is Money – Lee Boyce, 22
June 2012
^ Family¿s fears cancer girl could die in Mexico after NatWest
computer glitch meant crucial funds could not be transferred. Daily
Mail.
^ "RBS computer problems kept man in prison". BBC News. 26 June
2012.
^ a b Hall, James (25 June 2012). "RBS glitch 'well on the way' to
being fixed, says chief". The Daily Telegraph. London. Retrieved 25
June 2012.
^ Adetunji, Jom (23 June 2012). "
NatWest
NatWest 'technical glitch' fixed,
says spokesman". The Guardian. London. Retrieved 25 June 2012.
^ Peachey, Kevin (25 June 2012). "
NatWest
NatWest computer failure: Your
rights Q&A". BBC News. Retrieved 4 December 2013.
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December 2013. Retrieved 4 December 2013.
^ "About CommunityForce".
NatWest
NatWest CommunityForce. Archived from the
original on 26 February 2012. Retrieved 30 October 2011.
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