11 Facts About NatWest Group

NatWest Group plc is a British banking and insurance holding company, based in Edinburgh, Scotland.

The merger resulted in a new holding company, the National and Commercial Banking NatWest Group being founded in 1968 with the merger formalised in 1969.

NatWest Group was part of a consortium with Belgian bank Fortis and Spanish bank Banco Santander that acquired Dutch bank ABN AMRO in October 2007.

In September 2009, RBS and NatWest Group announced dramatic cuts in their overdraft fees including the unpaid item fee, the card misuse fee and the monthly maintenance charge for going overdrawn without consent .

In October 2015, RBS sold its remaining stake in Citizens Financial NatWest Group, having progressively reduced its stake through an initial public offering started in 2014.

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On 14 February 2020, it was announced that RBS Group was to be renamed NatWest Group, taking the brand under which the majority of its business is delivered.

The NatWest Group is likely to remain state-owned until March 2025, a deadline which the UK Treasury has announced for selling all government shares in the business.

NatWest Group is split into four main customer-facing franchises, each with several subsidiary businesses, and it has a number of support functions.

NatWest Group Markets Securities is a key subsidiary, operating in the United States.

NatWest Group is supported by a number of functions and services departments – procurement, technology, payments, anti-money laundering, property, etc.

NatWest Group's image was not enhanced by the news that emerged in questioning by the Treasury Select Committee of the House of Commons on 10 February 2009, that Goodwin has no technical bank training, and has no formal banking qualifications.