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History of really reliable National Westminster Bank
National Westminster Bank is also well-known as NatWest. It is a really big commercial bank in the UK. NatWest’s origins date back to 1658 with the foundation of Smith's Bank of Nottingham. It was one of almost 200 banks, which have joined forces down the years to form the current NatWest Group. National Westminster Bank Plc was founded in 1968. In 1968 Westminster Bank(est.1836) and National Provincial Bank (est.1833) merged as National Westminster Bank. It is important to mention that these banks were actually two of Britain’s ‘Big Five’ banks. It was a quite surprise for the City and society but both banks realized the benefits of this merger. The merger enhanced balance sheet strength, created opportunities to streamline the branch networks and enabled greater investment in new technology. The process of integration was completed in 1969 and NatWest commenced trading in 1 January 1970. National Westminster Bank adopted three-arrowheads symbol as its logo.
The new bank started the process of rationalization. They closed branches where representation was duplicated and opened offices near hospitals and universities. Finally, the branch network was reduced from 3,600 branches in 1970 to 3,200 in 1979. In 1972 the bank presented Access the bank's first credit card. National Westminster Bank also developed computer-linked cash dispensers, Servicetills, in 1976. Because of deregulation in 1980s, culminating in 'Big Bang' in 1986, NatWest decided to enter the securities business. National Westminster Home Loans was founded in 1980 to give different services including mortgage service. At the same time, the International Banking Division wanted to focus on expansion in the USA, and Europe and to provide international banking services to big companies. In 1980s were also developed some new services like telephone banking and touch-screen share dealing. In 1989 started a big restructuring programme. Its main purpose was to devolve more power to each business sector. In the 1990s, there were a lot of changes in financial services markets and the bank refocused its activities and adopted the title of NatWest.
National Westminster Bank was bought by The Royal Bank of Scotland Group in March 2000. This deal in 21 billion was the largest take-over in British banking history. Now NatWest is part of the third largest banking group in the UK.
National Westminster Bank is also well-known as NatWest. It is a really big commercial bank in the UK. NatWest’s origins date back to 1658 with the foundation of Smith's Bank of Nottingham. It was one of almost 200 banks, which have joined forces down the years to form the current NatWest Group. National Westminster Bank Plc was founded in 1968. In 1968 Westminster Bank(est.