The Royal Bank of Scotland Group Plc (LSE: RBS) is a majority part-nationalised British banking and insurance holding company in which HM Treasury holds a near 58% controlling shareholding. The group is based in Edinburgh, UK.In the United Kingdom it includes The Royal Bank of Scotland Plc[2] founded in 1727 by a Royal Charter of King George I and the National Westminster Bank, which can trace its lineage back to 1650, and Ulster Bank in Northern Ireland.[3]RBS Group is the largest banking group in Scotland, and at its peak was the second largest in the UK and Europe (fifth in stock market value), and the fifth largest in the world by market capitalisation. According to Forbes Global 2000, it was the tenth largest company in the world.[4] Its shares have a primary listing on the London Stock Exchange.
The RBS Group operates a wide variety of banking brands offering personal and business banking, private banking, insurance and corporate finance throughout its operations located in Europe, North America and Asia. In the UK and Republic of Ireland, the main subsidiary companies are: The Royal Bank of Scotland; National Westminster Bank; Ulster Bank; Drummonds and Coutts & Co. In the United States, it owns Citizens Financial Group, the 8th largest bank in the country. It is the second largest shareholder in the Bank of China, the world's fifth largest bank by market capitalization in February 2008.[5] Insurance companies include Churchill Insurance, Direct Line, Privilege, and NIG.
The group issues banknotes in Scotland and Northern Ireland and, as of 2008, Royal Bank of Scotland is the only bank in the UK still to print a £1 note. On 13 October 2008, in a move aimed at recapitalising the bank, it was announced that the British Government would take a stake of up to 58% in the Group. The aim was to "make available new tier 1 capital to UK banks and building societies to strengthen their resources permitting them to restructure their finances, while maintaining their support for the real economy, through the recapitalisation scheme which has been made available to eligible institutions"[6]. A rights issue to existing shareholders having failed to secure more than minimal take-up, the government subsequently found itself owning more than 57% of the bank's equity share capital.
The registered head office of the group and the UK clearing bank are located at St Andrew Square. In 2005, Queen Elizabeth II opened the bank's new head office building in Gogarburn, Edinburgh.The Royal Bank of Scotland Group has grown from small beginnings nearly 300 years ago to become one of the largest financial services groups in the world. Our brands operate around the globe and down your street to provide banking services for individuals, businesses and institutions. Proud of our history, we remain committed to innovation and service - in business and through our many sponsorship activities.
