Royal Bank of Scotland

The Royal Bank of Scotland was founded by royal charter in Edinburgh in the year 1727. Boasting of a pedigree of great characteristics and diversity, the Royal Bank of Scotland has a rich and varied history.

One of the leaders in financial services world-wide, the bank is also boasts as being one of the oldest banks in the UK. The Royal Bank of Scotland is also the 2 nd biggest bank in Europe and the 5 th biggest in the world based on Market capitalisation.

The personal financial services offer by the Royal Bank include Online Banking, Current Accounts, credit cards, mortgages, savings and investments, loans, insurance, travel and international services among many others. The Royal Bank of Scotland offers some the best credit cards that have better features and variety from Classic Card to Gold, Platinum, Student, and others. Enjoy freedom and flexibility with Royal Bank’s credit cards.

In 2000, it took over the National Westminster Bank, and continued to grow and expand its business around the world, while continuing to strengthen its already strong presence in the United Kingdom. With offices in Europe, USA and Asia, The Royal Bank of Scotland is truly a global heritage bank.

Today, the Bank’s network of branches is spread across the United Kingdom. With a banking history that can be traced to more than four centuries in the past, Royal Bank has roots in the sixteenth century. Over the centuries there have been more than 200 private and joint stock banks that have been merged to constitute its past and present.

The first branch of the Royal Bank was opened in Glasgow and the entire nineteenth century has been witness to the Bank’s development of large network of offices across Scotland. After opening its first branch in London in 1874, The Royal Bank of Scotland worked to develop it’s presence in England by acquiring other small banks including Drummonds (was established in 1712), Williams Deacon's Bank (was established in 1836), Glyn, Mills & Co (was established in 1753) and Child & Co (was established in 1580s). After some more acquisitions and mergers by 1970, the Bank marked a new phase in its life and merged with the National Commercial Bank of Scotland based in Edinburgh. The National Commercial Bank comprised of the former National Bank of Scotland (established in 1825) and Commercial Bank of Scotland (established in 1810). Additionally, it also enjoyed more than 40% of the banking business in Scotland.

In 1985, Direct Line, an innovative car insurance company was set up by the Group marking the beginning of its diversification plans. In 1988, the Royal Bank acquired the Citizens Financial Group of USA. Both these diversification attempts proved to be immensely successful and in the next decade the Royal Bank decided to refocus on its core retail banking business. Its Direct Banking service was launched in 1994 and very soon it became the fastest growing 24 hours tele-banking operation. In 1997, the Royal Bank of Scotland began its full-fledged internet banking service along with two financial services ventures called Tesco and Virgin Direct.