RBS is rebranding as part of a strategic rethink and fresh start.
In Brief:
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CEO Alison Rose has unveiled a new strategy which includes reducing the company’s investment bank business.
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The whole company will rebrand as NatWest, but Ulster Bank and Royal Bank of Scotland will remain the same.
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A small business called RBS International will also remain.
What does this mean?
The new strategy unveiled on Friday seeks to make the most of the more profitable areas of the business and boost the company’s brand. As NatWest has long been the company’s customer-facing brand, accounting for about 80% of revenue, it should be familiar and have a reputation the bank can build on. NatWest Group also has a new set of green targets which look to halve tha bank’s climate financing by 2030.
