Butts
Veteran Member
NatWest operates under a UK banking licence and is registered in England & Wales. RBS operates under a separate UK banking licence and is registered in Scotland. Both are separate legal entities but subsidiaries of an intermediate holding company - NatWest Holdings Limited - which is registered in England & Wales. This intermediate company is owned by NatWest Group plc which is registered in Scotland.
Bank of Scotland has a UK banking licence and is registered in Scotland. Lloyds has a separate UK banking licence and is registered in England & Wales.
So, RBS and Bank of Scotland both remain Scottish banks.
Strange how things change.....
At one time I'm sure Barclays Bank owned Bank of Scotland, Midland Bank Clydesdale and National Westminster Bank RBS.
Who remembers the old Linen Bank I'm sure they used to issue notes up here as well.
Strange Wales is the only UK constituent that does not issue it's own notes.