Royal Bank of Scotland rebrands and hands special dividend to UK taxpayers

The Royal Bank of Scotland group is changing its name to NatWest.

The Royal Bank of Scotland is to undergo a rebrand in the first major decision by new chief executive Alison Rose, changing its name to NatWest plc.

Bosses said the move was because 80% of customers bank with the NatWest brand, rather than through RBS branches, adding that it will have no impact on customers or staff.