NatWest

National Westminster Bank Plc
NatWest
FormerlyNational Westminster Bank Limited (1968–1981)
Company typePrivate
IndustryFinancial services
PredecessorNational Provincial Bank
Westminster Bank
District Bank
Founded18 March 1968 (1968-03-18)
HeadquartersLondon, England, UK
Key people
Chairman: Richard Haythornthwaite
Chief Executive: Paul Thwaite
ProductsBanking, Investments, Lending and Insurance
ParentNatWest Holdings
SubsidiariesCoutts
Websitenatwest.com

National Westminster Bank Plc,[1] trading as NatWest,[2] is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. As of November 2024, the British government owns 10.9% of NatWest Group after spending £45 billion ($61.87 billion) bailing out the lender in 2008; the proportion at one point was 54.7%.[3][4] NatWest International is a trading name of RBS International, which also sits outside the ringfence.

NatWest is considered one of the Big Four clearing banks in the UK,[5][6] and it has a large network of over 526 branches[7] and 3,400 cash machines across Great Britain and offers 24-hour Actionline telephone and online banking services. Today, it has more than 7.5 million personal customers and 850,000 small business accounts. In Northern Ireland, it operates through the Ulster Bank brand.

  1. ^ "National Westminster Bank plc | NatWest Group Heritage Hub". www.natwestgroup.com. Retrieved 17 November 2024.
  2. ^ "National Westminster Bank Plc Annual Report and Accounts 2019" (PDF). NatWest. Archived (PDF) from the original on 30 January 2022. Retrieved 22 January 2024.
  3. ^ "Britain unveils plan to return NatWest to majority private control". Reuters. 22 July 2021. Archived from the original on 16 September 2021. Retrieved 16 September 2021.
  4. ^ Strydom, Martin (11 November 2024). "NatWest buys back £1bn of shares from Treasury". The Times. Retrieved 11 November 2024.
  5. ^ Kar-Gupta, Sudip. "UK banks prepare for inevitable shake-up". Archived from the original on 15 April 2014.
  6. ^ Kar-Gupta, Sudip (10 April 2011). "UK to prioritise taxpayers as bank shake-up looms". Reuters. Archived from the original on 24 September 2015. Retrieved 14 April 2014.
  7. ^ "RBS and NatWest to shed 158 branches and more than 400 jobs". BBC News. 23 March 2017. Archived from the original on 24 March 2017. Retrieved 23 March 2017.

NatWest

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