The Royal Bank of Scotland is the second largest bank in the United Kingdom. It is also one of the UK's oldest banks, founded in Edinburgh 1727 by Royal Charter. Today the bank, is one of the largest banks in the world, with offices in Europe, America and Asia. At the end of 2002, the Royal Bank of Scotland was the second largest in Europe; and fifth largest in the world by market capitalisation. The bank's head office is in St Andrew's Square, Edinburgh. Its shares have a primary listing on the London Stock Exchange.
History of the Royal Bank of Scotland
- 1727- founded in Edinburgh by Royal Charter;
- 1783- first branch in Glasgow opens;
- 1874- first London branch opens;
- 1920- acquisition of various small English banks to form Williams and Glyn's Bank
- 1972- merger with National Commercial Bank of Scotland
- 1980- abortive hostile takeover bid by Hong Kong and Shanghai Banking Corporation fails
- 1985- established the Direct Line insurance brand
- 1985- Williams and Glyn's bank name merged with the Royal Bank of Scotland
- 1988- acquisition of Citizens Financial Group of Rhode Island.
- 1997- develops internet banking
- 2000- acquisition of the National Westminster Bank after hostile takeover battle with the Bank of Scotland.
- Royal Bank of Scotland- UK clearing bank, head office in Edinburgh
- National Westminster Bank- UK clearing bank, head office in London
- Adam and Company- UK private bank
- Citizens Financial Group- US bank group based in New England
- Direct Line- telephone financial services company
- Ulster Bank- Northern Irish clearing bank based in Belfast
- Coutts and Company- UK private bank based in London
- The Royal Bank of Scotland still prints its own banknotes for Scotland;
- It was the first bank in the world to offer an overdraft facility
- The bank's gross profits exceeds the annual budget of the Scottish Executive
