RBS TO CHANGE NAME TO NATWEST GROUP FROM NEXT WEDNESDAY

ROYAL Bank of Scotland today said it will formally change its name to NatWest Group next Wednesday, as the bailed-out lender attempts to scrub up its reputation, which was tarnished by the financial crisis.

The move comes after boss Alison Rose — promoted from deputy CEO of NatWest last autumn — unveiled the name change in February as part of a shake-up of the group.

Chairman Howard Davies said then that the RBS name was associated with its time building an international group, which has since been scaled back. The bank’s branches will continue to trade as RBS but investors and advisers will now know the listed entity as NatWest Group — changing a moniker that has been in place since the bank’s foundation in 1727.