When was natwest founded

Each one has left its mark on our identity today. Launched in , but traces its origins to more than smaller banks founded in communities all over England and Wales. Started as an army pay agency in about , and later developed into a bank by introducing banking services for army officers. More information about all these brands, and the many past names that contribute to their heritage, is available on the NatWest Group Heritage Hub.

NatWest Group Heritage Hub is an in-depth resource exploring the companies, people and places that have played a part in our history. NatWest Group Remembers commemorates our colleagues who lost their lives in war in the 20 th century and explores the effects of those wars on our banks, customers and staff.

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NatWest Group is here to provide help and support to those who need it. Read more about Our Purpose here. Covid supporting our customers and communities. Detecting and preventing financial crime. Reflecting on our shared heritage. Breaking news. Our brands. But the group was hit hard by the stock market crash of and was deeply damaged by the Blue Arrow affair, in which NatWest found itself on the wrong end of a long-running and costly fraud trial. It lost its way and began to get a reputation for being poorly managed.

This is why in the recent takeover battle, there has been little sympathy for NatWest, contrasting with widespread admiration for the ambitions of the would-be buyers. Having failed in its attempt to become a major international investment bank, NatWest has been gradually slimming down to concentrate on domestic operations. In , it sold NatWest Tower, one of London's landmarks and until then a proud symbol of the firm's stature.

Last year, Sir David Rowland - a former chairman of London's Lloyd's insurance market - was appointed chairman of the group. He has mounted a spirited defence against the takeover bids from Bank of Scotland and the Royal Bank of Scotland. The bids have prompted NatWest to speed up its reorganisation in the hope that a nimbler and more profitable structure will persuade shareholders to reject the offers.

This is significantly more in cash than either Scottish bank is offering through their mainly share bids. NatWest is also hoping to boost its consumer business with a joint venture with internet portal Yahoo, through which it is developing its online banking service.