The Royal Bank of Scotland Group plc also known as RBS Group is a British banking and insurance holding companybased in Edinburgh, Scotland. The group operates a wide variety of banking brands offering personal and business banking, private banking, insurance and corporate finance through its offices located in Europe, North America and Asia.

In the UK and Irelandits main subsidiary companies are The Royal Bank of Scotland[4] NatWestUlster Bank and Coutts. Outside the UK, from to it owned Citizens Financial Groupthe 13th largest bank in the United Statesand from to it was the second largest shareholder in the Bank of Chinaitself the world's fifth largest bank by market capitalisation in February Before the collapse and the general financial crisisRBS was very briefly the largest bank in the world and for a period was the second largest bank in the UK and Europe fifth in stock market valueand the fifth largest in the world by market capitalisation.

In addition to its primary share listing on the LSE, the company is also listed on the New York Stock Exchange. Byeconomic conditions were becoming more difficult for the banking sector. In response, the National Commercial Bank of Scotland merged with the Royal Bank of Scotland. The merger resulted in a new holding companyNational and Commercial Banking Group Ltd.

The holding company was renamed The Royal Bank of Scotland Group in During the late s and early s the Royal Bank was the subject of three separate takeover approaches. InLloyds Bankwhich had previously built up a The offer was rejected by the board of directors on the basis that it was detrimental to the bank's operations. However, when the Standard Chartered Bank proposed a merger with the Royal Bank inthe board responded favourably.

Standard Chartered Bank was headquartered in London, although most of its operations were in the Far East, and the Royal Bank saw advantages in creating a truly international banking group. Approval was received from the Bank of Englandand the two banks agreed a merger plan that would have seen the Standard Chartered acquire the Royal Bank and keep the UK operations based in Edinburgh. However, the bid was scuppered by the Hongkong and Shanghai Banking Corporation HSBC which tabled a rival offer.

The bid by HSBC was not backed by the Bank of England and was subsequently rejected by the Royal Bank's board. However the British government referred both bids to the Monopolies and Mergers Commission ; both were subsequently rejected as being against the public interest. The first international office of the bank was opened in New York in Subsequent international banks were opened in Chicago, Los Angeles, Houston and Hong Kong. In the bank acquired Citizens Financial Group, a bank based in Rhode IslandUnited States.

Since then, Citizens has acquired several other American banks and in acquired Charter One Bank. The bank has since announced it would scale back its international presence.

The late s saw a new wave of consolidation in the financial services sector. InRBS formed a joint venture to set up Tesco Bank. However, the Royal Bank subsequently tabled a counter-offer, sparking off the largest hostile takeover battle in UK corporate history. On 11 FebruaryThe Royal Bank of Scotland was declared the winner in the takeover battle, becoming the second largest banking group in the UK after HSBC Holdings. NatWest and the Royal Bank of Scotland became subsidiaries of the holding company; The Royal Bank of Scotland Group.

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, job losses throughout the UK.

A new international headquarters was built at Gogarburn on the outskirts of Edinburgh, and was opened by Queen Elizabeth II and Prince Philip, Duke of Edinburgh in The Group was part of a consortium with Belgian bank Fortis and Spanish bank Banco Santander that acquired Dutch bank ABN AMRO a on 10 October This was, at the time, the largest rights issue in British corporate history.

The bank also announced that it would review the possibility of divesting some of its subsidiaries to raise further funds, notably its insurance divisions Direct Line and Churchill. 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".

RBS Stock Price - Royal Bank of Scotland Group PLC ADR Stock Quote (U.S.: NYSE) - MarketWatch

The government stressed, however, that it was not "standard public ownership" and that the banks would return to private investors "at the right time". As a consequence of this rescue, the Chief Executive of the group Fred Goodwin offered his resignation and it was duly accepted. Chairman Sir Tom McKillop confirmed that he would stand down from that role when his contract expired in March Goodwin was replaced by Stephen Hester, previously the Chief Executive of British Landwho commenced at the Royal Bank of Scotland in November On 19 Januarythe British Government announced a further injection of funds into the UK banking system in an attempt to restart personal and business lending.

ROYAL BANK SCOT share interactive chart (RBS) - London Stock Exchange

This would involve the creation of a state-backed insurance scheme which would allow banks to insure against existing loans going into default, in an attempt to restore the banks' confidence.

At the same time the government announced its intention to convert the preference shares in RBS that it had acquired in October to ordinary shares. RBS' contractual commitment to retain the 4. Exchange rate fluctuations meant that RBS made no profit on the deal. The Scottish press suggested two reasons for the move: Also in MarchRBS revealed that its traders had been involved in the purchase and sale of sub-prime securities under the supervision of Fred Goodwin.

In Decemberthe RBS board revolted against the london stock exchange royal bank of scotland shareholder, the British government. Unions were baffled that any bankers were getting bonuses, considering the bank is owned by the taxpayer.

In OctoberMoody's downgraded the credit rating of 12 UK financial firms including RBS blaming financial weakness. If he failed to do this, it would be clawed-back. The Treasury permitted the payment because they feared the resignation of Hester and much of the board if the payment was vetoed s&p 500 emini futures trading hours the government as the majority shareholder.

In June a failure of an upgrade to payment processing software meant that a substantial proportion of customers could not transfer money to or from their hp trading forex. This meant that RBS had to open a number of branches on a Sunday — the first time that they had had to do this. RBS released a statement on 12 June that announced a transition in which CEO Stephen Hester will stand down in December for the financial institution "to return to private ownership by the end of ".

The RBS stated that, as of the announcement, the search for Stock market crash jumpers successor would commence. The transaction is subject to a number of conditions, including regulatory approval. Due to pressure from the UK government to shut down risky operations and prepare for tougher international regulations, in January the bank announced it would cut another 4, jobs and close its loss-making cash equities, corporate broking, equity capital markets, and mergers and acquisitions businesses.

The move brought the total number of jobs cut since the bank was bailed out in to 34, DuringRBS separated its insurance business from the main stock market crash in 1929 facts to form the Direct Line Group[58] made up of several well-known brands including Direct Line and Churchill.

RBS sold its remaining stake in Citizens Financial Group in Octoberhaving progressively reduced its stake through an initial public offering IPO started in In Augustthe group reached an agreement to sell branches to Santander UKmade up of the RBS branches in England and Wales and the NatWest branches in Scotland. In Septemberthe group confirmed it had reached an agreement to sell branches to the Corsair consortium, made up of private equity firms and a number of institutional investors, including the Church Commissionerswhich controls the property and investment assets of the Church of England.

The branches, incorporatingsmall business customers, 1, medium business customers and 1. It revealed it would instead seek to sell the operation to another bank.

In FebruaryHM Treasury suggested that the bank should abandon the plan to sell the operation, and instead focus on initiatives to boost competition within business banking in the United Kingdom.

The plan would be subject to approval by the European Commission. RBS is split into three main customer-facing franchises, each with several subsidiary businesses, and it also has a number of support functions. The franchise comprises retail and business banking. In the United Kingdom, the group trades under both the NatWest and Royal Bank of Scotland names.

This stock market wordreference serves UK corporate and commercial customers, from SMEs to UK based multi nationals, and is the largest provider of banking, finance and risk management services to UK corporate and commercial customers. Key private banking subsidiaries and brands of RBS include:. This franchise, commonly referred to as the investment banking arm of RBS, provides banking services and integrated financial solutions to major corporations and financial institutions around the world.

NWMs areas of strength are debt financing, risk management, and investment and advisory services. It also offers clients put option vc capabilities in transaction banking.

RBS Securities is a key subsidiary, operating in the United States. This franchise consists of services — procurement, technology, payments, anti-money laundering, property, etc — and support and control functions: RBS uses branding developed for the Bank on its merger with the National Commercial Bank of Scotland in His image was not enhanced by the news that emerged in questioning by the Treasury Select Committee of the House of Commons on 10 Februarythat Goodwin has no technical bank training, and has no formal banking qualifications.

In January The Guardian ' s City editor Julia Finch identified him as one of shorting the japanese stock market people who london stock exchange royal bank of scotland at the heart of the financial meltdown. Other members have also frequently forex friday trading system reviews criticised as " fat cats " over their salary, expenses, bonuses and pensions.

RBS was challenged over its financing of oil and coal mining by charities such as Platform London and Friends of the Earth. RBS provides the financial means for companies to build coal-fired power stations and dig new coal mines at sites throughout the world.

ON and other coal-utilising companies. According to RBS' own figures, half of its deals to the energy sector were to wind power projects; although, this only included project finance and not general commercial loans. In andstaff of the bank were threatened over its provision of banking facilities for the animal testing company Huntingdon Life Sciences. The intimidation resulted in RBS withdrawing the company's overdraft facility, requiring the company to obtain alternative funding within a tight deadline.

Climate Camp activists criticise RBS for funding firms which extract oil from Canadian oil sands. From Wikipedia, the free encyclopedia. Not to be confused with Bank of Scotland. For the history of the Royal Bank of Scotland before the holding company, see The Royal Bank of Scotland.

For more details on this topic, see NatWest Markets. Retrieved 9 April Retrieved 4 August Retrieved 18 April Committee of Scottish Bankers. Retrieved 14 March The Royal Bank of Scotland Group plc. Retrieved 16 April Retrieved 2 March Retrieved 28 July Retrieved 10 April Retrieved 17 March RBS overpaid for ABN Amro". Archived from the original on 18 May Retrieved 14 October We'll be rock of stability".

UK taxpayer will benefit from banks rescue". The Huffington Post UK.

Retrieved 21 March Retrieved 13 June Retrieved 25 September Retrieved 20 September Retrieved 24 February Retrieved October 30, The Church of England. Retrieved 7 October Retrieved 29 September Retrieved 5 August Retrieved 17 February The Royal Bank of Scotland Group. Retrieved 27 February Retrieved 20 January The World's Worst Banker Newsweek Voices — Daniel Gross". Retrieved 13 February Retrieved 13 December High street banks face consumer boycott over investment in coal projects".

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