Our plan to change our parent name


Our plan to change our parent name

We have announced that we plan to change the name of our parent company from RBS Group plc, to NatWest Group plc. It’s expected that the name change will take effect later this year.

Customers will see no change to products or services as a result of this change and will continue to be served through the brands they recognise today, including NatWest and Royal Bank of Scotland.

Similarly, the name-change has no impact on jobs and our employees will see no change to the way they work as a result of this change.

As we build a purpose-led bank focused on our customers, this is the right time to align our Group name with the brand under which the majority of our business is delivered. NatWest represents approximately 80% of our customer base.

Customers

What does it mean for customers?

Our customers don’t interact with RBS Group so this change won’t affect them.

In England and Wales, most of our customers bank with NatWest. In Ireland it’s Ulster Bank and in Scotland they’re with The Royal Bank of Scotland. These high street brands won’t change as a result of today’s announcement.

Scotland is an important part of the bank’s heritage and our commitment to our customers and colleagues in Scotland and to The Royal Bank of Scotland brand will remain unchanged. Our registered office and our three main key legal entities will remain in Scotland.

 

Will branches be impacted?

• This will have no impact on our branch footprint.

• We have no plans for any branch closures this year but we always keep our network under review as we continue to respond to the changes in the way our customers are choosing to bank with us.

How long will the changes take to put in place?

We intend the name-change to be legally effective later this year.

What does this mean for jobs in Scotland?

• There will be absolutely no change in terms of jobs.

• With more than 11,000 staff, The Royal Bank of Scotland is one of the largest private sector employers in Scotland.

• The Royal Bank of Scotland supports 1.75 million personal customers in Scotland and more than 100,000 businesses.

• We support Scottish customers with more than £20bn of lending, from business lending to mortgages and personal loans. This will not change as a result of the Group name-change.

 

Investors

What will happen to the ordinary and/or preference shares I currently hold in the Group?

The ordinary and/or preference shares you currently hold in The Royal Bank of Scotland Group plc (‘shares’) will continue to exist once the name is legally changed, and so they will be the same shares but held in NatWest Group plc . There will be no change to nominal value or structure of your shareholding as a result of the change of name.

Will I receive a new share certificate?

If you hold your RBS shares in certificated form, you won’t receive a new share certificate in the new company name; your existing share certificate(s) will remain valid. Any share certificates issued following the legal change of name will be in the name of NatWest Group plc.

Will the shares continue to be listed on the London and New York Stock Exchanges?

• Yes, the Group’s ordinary shares will continue to be listed on both the London Stock Exchange and the New York Stock Exchange and the listing will be updated from ‘The Royal Bank of Scotland Group plc’ to NatWest Group plc, following the legal name change, anticipated to be effective later this year.

• There will be no change to the American Depositary Receipt (ADR) ratio following the change of name.

Timing

Why are you doing this now?

Given the Group’s progress, solid financial footing and the forward-looking strategy it is now implementing, it makes sense to put in place a Group name with the brand under which the majority of our business is delivered. NatWest represents approximately 80% of our customer base.


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