The Royal Bank of Scotland (RBS) has confirmed it will formally change its name to NatWest Group on Wednesday, July 22. Bosses said the move was because 80 per cent of customers bank with the NatWest brand, rather than through RBS branches.
New RBS boss Alison Rose unveiled the name change in February as part of her new strategy soon after taking on the top job last autumn.
It also sees the group move away from a brand that was tarnished by its mammoth £45.5 billion state bailout in 2008. Bank branches will continue to trade as RBS and the name will still be heavily associated with the business.
But investors and advisers will now know the listed entity as NatWest Group - changing a name that has been in place since the bank's foundation in.
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