The Royal Bank of Scotland Group, or RBS, is one of the UK’s biggest banking groups. Founded in 1969 (the RBS bank itself was founded in 1727), and headquartered in Edinburgh, Scotland, the group operates a host of brands for personal and business banking with offices in Europe, North America and Asia.

RBS is currently comprised of five principal subsidiaries: RBS (Royal Bank of Scotland brand), NatWest (formerly National Westminster), NatWest Markets (investment banking operation), Ulster Bank and private bank and wealth manager Coutts (the Queen’s bank).

Overseas, RBS used to own Citizens Financial, one of the US’ largest banks, from 1998 through 2015, while 2004-2009 it was number two shareholder in Bank of China. In 2012 RBS separated its insurance business, selling a 30% stake to the public in the separately listed Direct Line Group. It sold its remaining shares in 2014.

Bailed out to the tune of £45bn by the UK government at the height of the financial crisis, the group remains partly tax-payer owned (62.4%). It has been forced to undergone significant restructuring, scaling back its operations with a view to being exposed to less risk, and getting back on a steady footing to help repay taxpayers. It has since resumed dividend payments, but it has work to do before it returns to yielding the 6-7% sector typical yield of the pre-crisis early 2000s. Regardless, RBS shares remain a vital constituent of many fund portfolios.

Before the financial crisis, following an acquisitive streak by the disgraced Fred Goodwin, including £49bn for Dutch giant ABN AMRO, RBS Group was very briefly the world’s biggest bank by assets (over £2.2 trillion). For a period the group was number two banking group in both the UK and Europe, and number five in the world, by stock market value.

RBS shares are primarily listed on the London Stock Exchange (LSE), its shares being part the UK’s well-known flagship UK 100 Index. It also benefits from a secondary share listing on the New York Stock Exchange (NYSE).