Our plan to change our parent name

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.

• 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.

We intend the name-change to be legally effective on 22 July.

• 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.

 

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.

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.

• 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.

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.