The Royal Bank of Scotland plc (
Scottish Gaelic:
Banca Rìoghail na h-AlbaToken and
symbolic use of the Scottish Gaelic name occurs on some Royal Bank of Scotland plc buildings and customer stationery such as
cheque books. Gaelic is not used on the RBS website, for contracts or on their banknotes.) is one of the retail banking subsidiaries of the
Royal Bank of Scotland Group plc, and together with
NatWest and
Ulster Bank, provides branch banking facilities throughout the British Isles. Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in many larger towns and cities throughout
England and
Wales. The Royal Bank of Scotland and its parent, the Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the
Bank of Scotland, which pre-dates the Royal Bank of Scotland by 32 years. The Bank of Scotland was effective in raising funds for the
Jacobite Rebellion and as a result, The Royal Bank of Scotland was established to provide a bank with strong
Hanoverian and
Whig ties.
History
Foundation
The bank traces its origin to the
Society of the Subscribed Equivalent Debt which was set up by investors in the failed
Company of Scotland to protect the compensation they received as part of the arrangements of the 1707
Acts of Union. The
Equivalent Society became the
Equivalent Company in 1724, and the new company wished to move into banking. The British government received the request...
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