The 17th century saw the emergence in London of Britain's first generation of goldsmith-bankers, while in Scotland the ill-fated Company of Scotland paved the way for the subsequent foundation of the Royal Bank of Scotland.
Through time
More detailed information about each of our historical constituent businesses, including those that made up NatWest, is available through our index of companies.
For a broad overview of the historical contexts that shaped all our banks over the centuries, choose a datespan below.


In 1727 the Royal Bank of Scotland was established as Scotland's second bank; a unique departure in banking at that time.

The middle years of the 18th century were a time of instability and conflict in Scotland, but at the same time the nation was developing a uniquely stable banking system that would go on to be widely admired and imitated.

As the Industrial Revolution gathered pace, banks became more important than ever. Small, often unstable, partnership banks proliferated in England and Wales, while Scotland's much-admired multi-bank system continued to develop.

After a series of damaging crises, the government changed English and Welsh law to emulate Scotland's more stable banking system.

Banks' branch networks expanded, and the Royal Bank undertook its first acquisition. Meanwhile, Scottish-trained bank clerks became sought-after workers all over the world.

Many mergers took place in the banking sector in these years. International trade became a greater concern, despite the temporary halt caused by the First World War. Women joined the banking workforce for the first time.

All banks began to seek a broader range of customers, including small savers. The Royal Bank expanded rapidly, thanks to major acquisitions in England. Just as a generation earlier, war took its toll on all areas of life.

Banks began to offer a much wider range of products, including insurance, mortgages and personal loans. The biggest bank merger since the end of the First World War saw the creation of NatWest.

The Royal Bank of Scotland grew rapidly through the 1980s and 1990s, and in 2000 acquired NatWest. Later the bank made a series of bad mistakes which culminated in the crisis of 2008. Since then, the bank has been working to put things right.