According to an article on the financial website, MarketWatch, NatWest Group will be the new name of the Royal Bank of Scotland (RBS).
The report stated that "Royal Bank of Scotland Group PLC said Friday that it intends to rename itself as NatWest Group and reduce the size of its investment-banking business, as it reported an increased profit for the fourth quarter of 2019.
The majority-state-owned bank RBS, +0.51% RBS, -5.82% said too much of its potential value is locked in business lines and business models that are “too complex and generating too little return” and it will reduce the size of its NatWest Markets investment-banking business by around a half."
Read the full story RBS to be renamed as NatWest Group and cut size of investment bank on MarketWatch's website.
