Royal Bank of Scotland is changing its name to NatWest plc in a major re-branding by new chief executive Alison Rose, the company has said.
It comes as RBS announced plans to hand over £600million to the Government, which owns 62% of the bank, in dividend payments as it hit a pretax profit of £4.23 billion last year.
The payment will be made as part of a normal 3p dividend and a special dividend of 5p per share, as bosses said its preferred measure – return on tangible equity – hit 9.4%.
