Banks that joined the group during these years included Drummonds established c. In RBS launched direct banking, which quickly became Britain's fastest growing hour telephone banking operation. In , it announced the UK's first on-line banking service and also embarked on joint financial services ventures with Tesco and Virgin Direct.
In , in the biggest takeover in the history of British banking, the Royal Bank acquired National Westminster Bank Plc to create a highly diversified portfolio of services for personal, business and corporate customers.
NatWest's retail bank continues to operate as a distinct and separate brand. In exchange for government guarantees on losses from toxic debt , the bank will have to sign a binding agreement with the Treasury on how much it will lend and on what terms. Auditors will move in to check the bank is following the government directive. L , effective in late On July 19, , RBS was sued by federal regulators for the selling of overly risky and falsely advertised mortgage securities to Western Corporate Federal Credit Union.
On August 5, , RBS reported a hefty first-half net loss. The company cited charges for the selling of fraudulent payment-protection insurance and a markdown on Greek bonds as causes for the trouble. Chief Executive Stephen Hester was quoted as keeping a "calm and purposeful" resolve during the crisis, admitting that the economic recovery in was much slower than he expected and had thus made it difficult for RBS to move forward. On June 12, , RBS announced that Hester would step down as chief executive at the end of the year.
She worked her way up after joining the bank as a graduate trainee in Unlike her predecessor Ross McEwan, she is based solely in London, although the bank has its headquarters in Edinburgh. Neil Wilson, chief market analyst at Markets.
But he said "it's clear RBS is putting legacy conduct issues behind it and has got the payment protection insurance PPI monkey off its back". Mr Wilson added: "Now that the PPI deadline has passed, the bank has much greater visibility of future cash generation.
What will bank branches look like in the future? Ulster Bank creates new jobs in Belfast. Developer who bought jet and yacht loses RBS case. RBS trials UK's first biometric payment fob. This video can not be played To play this video you need to enable JavaScript in your browser. Alison Rose: "My focus is on making sure we're a safe, smart bank for the future". Crucial questions unanswered. Climate commitment. Royal Bank of Scotland has a long-standing partnership with the Scottish Rugby Union which allows the opportunity to recognise its customers with access to tickets and unique experiences.
The bank also sponsors the Royal Edinburgh Military Tattoo, one of Scotland's most recognised events, and the Royal Highland Show, which is Scotland's biggest agricultural event. Since , Royal Bank has been encouraging its employees and customers to raise money for STV Children's Appeal which works to help one in five children in Scotland who are affected by poverty. As Lead Partner of Royal Bank KiltWalk , the bank supports this unique charity event where every penny made goes to supporting Scotland's children.
Did you know? Royal Bank of Scotland employs almost 12, people and serves 3. It granted over 20, new mortgages in Scotland in
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