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RBS becomes NatWest

Royal Bank of Scotland (RBS) is to change its name to NatWest later in 2020, the bank announced on 14 February 2020.

NatWest is a subsidiary of RBS but its name is considered less toxic. RBS had to be bailed out by the government in the 2008 banking crisis and has been much criticised for sharp practice since then.

About 80% of RBS's business is with existing NatWest banks.

The change will not affect service to customers. [20.02]