Company: Royal Bank of Scotland plc
Brand value: US$1,653 million
Headquarter city: Edinburgh
Change since 2017: -7%
Year formed: 1727
RBS has become one of the largest banks in Scotland, providing personal, commercial, corporate and institutional banking services. It has branches around the UK, most of which are in Scotland, though has been closing branches as it encourages customers to go digital and in late 2017 announced that it would close more than a third of branches in Scotland. Since 2012, the number of customers using RSB branches in Scotland has fallen by 44 percent. In this climate, RBS is working on plans to launch a standalone digital bank that can help it reduce costs and adapt to consumers’ changing demands. Strong digital challenger brands such as Monzo and Revolut have been growing rapidly and taking share from traditional banks. Despite this pressure, RBS reported a profit for each quarter of 2017 and for the full year was on track to record its first annual profit since 2007. RBS has expanded by acquiring hundreds of smaller banks over many years, some of which still operate as separate brands, including NatWest, Ulster Bank and Isle of Man Bank. In its communications, RBS focuses on its local connections under the banner “We are the Royal Bank of Scotland”.