RBS Banking Brand to Disappear From the High Street

By Gary Cutlack on at

The RBS banking group is to rename itself NatWest soon, as the financial giant tries to escape associations with past country-ruining financial misconduct and would like to be allowed to start making massive profits again without its executives having to feel too guilty.

RBS owns NatWest and Ulster Bank, although 62 per cent of the business is still technically owned by the UK taxpayers; a legacy of the massive bailout the UK's banking industry benefited from back in 2008, when £45bn was invested in RBS to save it from collapse. RBS itself is happily back to being profitable again, though, booking £3.1bn for the 2019 year, with new exec Alison Rose using the results announcement to reveal the plan to detoxify the group's legacy by putting the RBS brand into the bin. [BBC]