The RBS brand is to disappear as the bank looks to draw a line under its past with a rebrand to NatWest Group and launch of a new strategy focused on being a purposeful business focused on its shareholders, colleagues and society.
The change, which will come into effect later this year, will see the end of the RBS brand that was founded back in 2004 when the bank announced its ambitions to become a global business (apart from a small RBS International business in the Channel Islands). Instead, the company will take on the name of its biggest consumer-facing brand – NatWest – which accounts for around 80% of its revenue.
The other brands in its portfolio will remain, including the Royal Bank of Scotland, Ulster Bank and Coutt’s, which offers private banking services.
Speaking exclusively to Marketing Week, CMO David Wheldon says with the bank now back to being profitable (it made £4.2bn in operating profit before tax in 2019) and paying dividends, it is time to leave the “toxic” RBS brand behind and look to the future.