Rbs Login: Royal Bank Of Scotland commonly abbreviated as RBS, is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc. RBS operates as an international banking and financial services company.
It is ranked among the Forbes global 2000. As of may 2016, RBS online boasts of a market capitalization of $42.4 Billion and assets worth $ 1201.83 Billion.
The 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 bank was formed in 1927 and headquartered in Edinburgh, Scotland.
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History of RBS
Royal Bank of Scotland was established in 1927 and was the second bank started in Scotland. The bank together with National Westminster bank is the two main retail banking brands of the Royal Bank of Scotland Group PLC. RBS emerged from the aftermath of the disastrous Darien Scheme and the Treaty of Union (1707).
The Darien scheme was a plan to establish a Scots trading colony, designed along the lines of England’s London East India Company, in Panama. Scotland could not raise the capital needed scheme alone, so they relied on England for the bulk of the capital.
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However, when the English government realized that a successful Scottish venture could jeopardize the position of the London East India Company, they withdrew their support at the last minute.
Forced to finance the venture alone, the Scots raised £238,000 for the enterprise. Unfortunately, the entire sum was lost when the venture collapsed in 1699 due to difficulties with the heat, the Spanish, and outbreaks of fever.
The loss suffered by Scotland was so devastating and feeling ran so high against England for its lack of support. When the two countries were joined by the 1707 Act of Union, the English government deemed it wise to agree to pay compensation.
The government provided for an “Equivalent” of £398,085 (and ten shillings) to cover the Darien losses and other debts and allowed for an “Arising Equivalent, “which would be a percentage of tax revenue.
Because only £150,000 of the promised money was actually available in cash, many Scottish creditors were given debentures bearing interest at 5 percent. Little of this interest actually materialized, however, until 1719, when an act was passed establishing an annual fund of £10,000 to be raised by Scotland’s customs and excise.
Organizations such as the Society of the Subscribed Equivalent Debt arose in both Scotland and England to aid in collecting the interest due, to buy more debenture stock, and to issue loans to members based on the value of their holdings.
In 1724 these organizations were joined and regularized by Parliament to create the Equivalent Company. By 1727 this company, which was essentially acting as a bank to its members, chose to take the next logical step and officially become a bank – The Bank of Scotland
Products and Services of RBS Login Page
The Royal Bank of Scotland provides personal banking services such as mortgages, loans, investment and insurance, commercial banking for small businesses and a full range of services in the global financial markets for international corporations and institutions.
Other products and services include;
- Global transaction services
- Equities and structured retail products
- Mergers and Acquisitions Advisory
- Rates, Local markets, currencies and commodities
- Portfolio management
- Credit Market
Deals and Acquisitions of RBS
- 2000 – Royal Bank of Scotland (RBS) acquired NatWest Bank
- 2009 – Royal Bank of Scotland acquires ABN Amro Holding
- 2010 – Abu Dhabi Commercial Bank (ADCB) acquired the retail banking business of The Royal Bank of Scotland (RBS) in the United Arab Emirates (UAE).
- 2015 – Hinduja Group-promotedIndusInd Bank today said it has completed the acquisition of Royal Bank of Scotland’s diamond and jewelers financing business in India.
- 2016 – China Post acquired the exchange traded fund range of Royal Bank of Scotland
- 2016 – CTBC Financial acquired Royal Bank of Scotland’s Malaysia unit
Bank’s Website | Rbs Online Banking | Rbs Login
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