Company type | Private limited company (subsidiary undertaking) |
---|---|
Industry | Financial services |
Founded | 1996 |
Headquarters | St Helier, Jersey |
Key people | Oliver Holbourn, Chief Executive |
Products | Offshore banking |
Number of employees | 1,750 (August 2011 est.) [1] |
Parent | NatWest Group |
Website | rbsinternational natwestinternational |
The Royal Bank of Scotland International Limited, [2] trading under the NatWest International (retail), RBS International (institutional), Coutts Crown Dependencies (wealth management) and Isle of Man Bank brands, is the offshore banking arm of NatWest Group. It provides a range of services to personal, business, commercial, corporate and financial intermediary customers from its base in St. Helier, Jersey.
The Royal Bank of Scotland first began offering services to customers in offshore jurisdictions through Williams Deacon Bank, its London and Manchester-based subsidiary, in 1963. [3] RBS International was founded as Williams Deacons Investment and Finance Limited in 1966, becoming Williams & Glyn's Bank Investments (Jersey) Limited in 1970, Williams & Glyn's Bank (Jersey) Limited in 1982 and The Royal Bank of Scotland (Jersey) Limited in 1985, before adopting the present name in 2003. [4] The Royal Bank of Scotland International was first registered as a trading name in 1995 and The Royal Bank of Scotland International (Holdings) Limited was formed in 1996.
The undertaking of The Royal Bank of Scotland (Gibraltar) Limited, which carried on business in Gibraltar under the NatWest and RBS International brands, was transferred to RBS International in 2009. [5]
NatWest Offshore Limited was an Isle of Man-incorporated bank formed in 1997, with branches in Jersey, Guernsey and Gibraltar. The business was transferred to RBS International through private members' legislation passed in each of the four jurisdictions in 2001, with RBS retaining NatWest as a trading name as well as continuing its existing business. [6]
National Westminster International Holdings BV is the holding company for National Westminster Services (Ireland) Limited (Dublin), RBS Deutschland Holdings GmbH (Frankfurt) and RBS Netherlands Holdings BV (Houten).
In 2019, the High Court of Justice of the Isle of Man granted approval for the transfer of the business of Isle of Man Bank Limited (a wholly owned subsidiary of NatWest) to the Isle of Man branch of RBS International, trading as Isle of Man Bank. [7]
Headquartered in Jersey, RBS International has a presence in Gibraltar, Guernsey, the Isle of Man, Luxembourg and the United Kingdom. The bank is regulated by the Jersey Financial Services Commission; the Gibraltar branch is regulated and authorised by the Financial Services Commission, Gibraltar to undertake banking and investment business; [8] the Guernsey branch is regulated by the Guernsey Financial Services Commission and licensed under the Banking Supervision (Bailiwick of Guernsey) Law, 1994, as amended, the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002, and the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended; and the Isle of Man branch is licensed by the Isle of Man Financial Services Authority in respect of deposit taking, investment business and registered as a general insurance intermediary.
Financial services are provided through local and institutional banking customer segments. Local banking provides loan and deposit products and services to personal, private, business and commercial customers. Institutional banking provides services to European fund asset managers, fund administrators and corporate service providers. [9]
In 2022, NatWest Group announced the creation of Commercial and Institutional, which brought together the Commercial, NatWest Markets and RBS International customer businesses as a new operating segment. [10]
In 2012, it was announced that all personal banking customers would be migrated to the NatWest brand, while business, commercial and corporate banking customers would remain under the RBS International brand. [11] The NatWest trading name was changed to NatWest International in 2017, due to new ring-fencing legislation in the UK. [12]
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The Isle of Man Bank is a bank in the British Crown dependency of the Isle of Man, providing retail, private and business banking services to the local population. Incorporated in 1865, it has operated as a trading name of RBS International since 2019. It is licensed by the Isle of Man Financial Services Authority in respect of deposit taking and investment business and registered as a general insurance intermediary.
Williams & Glyn's Bank Limited was established in London in 1970, when the Royal Bank of Scotland merged its two subsidiaries in England and Wales, Williams Deacon's Bank Ltd. and Glyn, Mills & Co. In 1985, Williams & Glyn's was fully absorbed into the Royal Bank of Scotland and ceased to trade separately.
National Westminster Bank Public Limited Company, trading as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. The British government currently owns 19.97% of NatWest Group after spending £45 billion bailing out the lender in 2008; the proportion at one point was 54.7%. NatWest International is a trading name of RBS International, which also sits outside the ringfence.
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