Royal Bank of Scotland(redirected from The Royal Bank of Scotland plc)
Also found in: Financial.
Royal Bank of Scotland
the largest commercial bank of Scotland. Founded in 1727.
In 1930, the Royal Bank of Scotland absorbed Williams Deacon’s and in 1939, Glyn, Mills and Company. In April 1969, with the National Commercial Bank of Scotland (40 percent of which was owned by Lloyds Bank, one of Britain’s Big Five banks), it formed the National and Commercial Banking Group. The group has its board of directors in Edinburgh and is the fifth biggest banking establishment in Great Britain. The London clearing bank Williams and Glyn, founded in September 1970 as a result of a merger of three banks, also belongs to the group.
The Royal Bank of Scotland in 1972 had a balance sum of £904 million, capital and reserves of £70 million, current accounts and deposits of £731 million, and loans and discounted notes of £482 million. The bank has 650 branches in Scotland and London. In 1972 the balance sum of the National and Commercial Banking Group was £1,791 million, and current accounts and deposits were £1,533 million.
E. D. ZOLOTARENKO