What is RBS?

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What is RBS?
RBS stands for Royal Bank of Scotland. It is basically one of the retail banking subsidiaries, which is under the royal Bank of Scotland Group. It operates in cooperation with Ulster Bank and NatWest to provide reliable and updated banking facilities. This is to bring the valuable facilities to banking systems particularly through the British Isles. The bank is currently managing around 700 branches, which are mainly located in Scotland. However, there are also branches in Wales and England.

RBS was credited for its vital role in raising funds specifically for the Jacobite Rebellion. Moreover, it was established to endow a reliable bank, which has strong Whig and Hanoverian ties. Its foundation is dated back as early as 1707 as the product of the consortium of investors that set up the Society of Subscribed Equivalent Debt. This is to give protection to the compensation that they receive from the arrangements of the Acts of Union in the same year.

It is a banking institution, which opened its door in 1783 in the outskirts of Edinburgh. It is also when the first branch in Glasgow opened. It also marked the opening of other branches in locations such as Greenock, Rothesay, Dundee, Dalkeith, Leith and Port Glasgow. These branches also made their debut during the early stages of the 19th century. The bank also furthered its expansion especially in nearby countries such as England. The British Empire especially in the latter part of the 19th century made a promising expansion. This also means that it made London the largest financial center in the world.

With this advent in the financial industry, RBS became a crucial part of the rise to power of the British colony. Therefore, the bank is opened and expanded in London on 1874, however due to the efforts of English banks further expansion was not materialized.

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