RBS Unveils Name Change To NatWest, New Climate Goals

Law360, London (February 14, 2020, 5:22 PM GMT) -- Royal Bank of Scotland Group PLC announced plans for a corporate makeover Friday that includes a name change to NatWest later this year and a shift to more climate-friendly lending.

Chief Executive Alison Rose unveiled the overhaul as the bank reported profit of £3.1 billion ($4.04 billion) for 2019 despite paying out a sizable chunk in conduct and litigation charges — including £900 million for payment protection insurance payouts.  

Rose said that ditching the RBS name reflects that NatWest is now its biggest brand — though the RBS name will continue to be used in Scotland. In 2018 RBS renamed...

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