The RBS banking brand will disappear from the main road

The RBS banking group will soon rename itself NatWest, as the financial giant tries to escape associations with the country’s ruined financial misconduct and would like to be able to resume making huge profits without its leaders having to feel too guilty.

RBS owns NatWest and Ulster Bank, although 62% of the assets are still technically owned by UK taxpayers; a legacy of the UK banking sector’s massive bailout from which it benefited in 2008, when £ 45 billion was invested in RBS to save it from collapse. RBS itself has happily returned to being profitable again, however, by booking £ 3.1 billion for 2019, with the new executive Alison Rose using the announcement of the results to reveal the group’s legacy detoxification plan by putting the RBS mark in the trash. [BBC]

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