National Westminster Bank, trading as
NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. The British government currently owns 35% of NatWest Group after spending ÂŖ45 billion bailing out the lender in 2008; the proportion at one point was 54.7%. NatWest International is a trading name of RBS International, which also sits outside the ringfence.