Facebook flotation values the company at $104 billion
18 May 2012
Royal Bank of Scotland became one of the UK’s ‘big four’ banks when it acquired NatWest in 2000. The ill-timed acquisition of Dutch bank ABN Amro along with reckless activities by its global investment bank led to RBS’s downfall in 2009, requiring a government bail-out which left the taxpayer owning 84% of the bank.
It is in the process of selling off over 300 bank branches (to Spanish bank Santander) in order to meet European competition rules, but still has over 1900 branches, second only to Lloyds. RBS currently places strong emphasis on its community activities and responsibilities, and its lending to business.
RBS is completely separate from another Edinburgh-based bank, the Bank of Scotland, which was established 32 years earlier than RBS.
