80-588: Deansgate is a main road (part of the A56 ) through Manchester City Centre , England. It runs roughly north–south in a near straight route through the western part of the city centre and is the longest road in the city centre at over one mile in length. Deansgate is one of the city's oldest thoroughfares. In Roman times its route passed close to the Roman fort of Mamucium and led from the River Medlock where there
160-510: A European Commission ruling to sell a portion of its business, as the commission regarded the shareholding as state aid . Royal Bank of Scotland unveiled plans in 2009 to resurrect the dormant Williams and Glyn's brand name in preparation for the divestment of its Royal Bank of Scotland-branded retail banking business in England and its NatWest branches in Scotland. On 27 September 2013,
240-613: A 16.4% stake in the Royal Bank, made a takeover approach for the remaining shares it did not own. The offer was rejected by the board of directors on the basis that it was detrimental to the bank's operations. However, when the Standard Chartered Bank proposed a merger with the Royal Bank in 1980, the board responded favourably. Standard Chartered Bank was headquartered in London, although most of its operations were in
320-540: A 5% stake in the other. However, this arrangement ended in 2005, when Banco Santander Central Hispano acquired UK bank Abbey National – and both banks sold their respective shareholdings. The first international office of the bank was opened in New York in 1960. Subsequent international banks were opened in Chicago, Los Angeles, Houston , and Hong Kong. In 1988 the bank acquired Citizens Financial Group,
400-653: A bank based in Rhode Island , United States. Since then, Citizens has acquired several other American banks and in 2004 acquired Charter One Bank . From 1988 to 2015, it owned Citizens Financial Group , a bank in the United States , and from 2005 to 2009 RBS Group was the second-largest shareholder in the Bank of China , itself the world's fifth-largest bank by market capitalisation in February 2008. Following
480-638: A banking business transfer scheme approved by the Court of Session in Edinburgh. Child & Co. also closed in 2022, leaving Messrs. Drummond and Holt's Military Banking as the only remaining branches of RBS operating in England and Wales. As a consequence of the British Government taking an 81% shareholding in the RBS Group following the 2007–2008 financial crisis , the group was required by
560-624: A branch of the Royal Bank of Scotland; Williams Deacon's Bank , based in northwestern England (in 1930) and Glyn, Mills & Co. (in 1939), which together came to be known as the Three Banks Group; the English and Welsh branches were reorganised as Williams & Glyn's Bank in 1969, before adopting the Royal Bank name in 1985. During the late 1970s and early 1980s, the Royal Bank was the subject of three separate takeover approaches. In 1979, Lloyds Bank , which had previously built up
640-411: A bus lane opened at the junction of Blackfriars Street and Deansgate for southbound buses, taxis and bicycles. From Bridge Street to Quay Street it will be permanently one-way only, in a southbound direction. The 'free bus' services 1, 2 and 3 operate around the city centre and all three routes have stops on Deansgate. Deansgate is a long straight street which has provided a venue for sporting events in
720-537: A clear space to expand its own business – although the Royal Bank's increased note issue also made it more vulnerable to the same tactics. Despite talk of a merger with the Bank of Scotland, the Royal Bank did not possess the wherewithal to complete the deal. By September 1728, the Bank of Scotland was able to start redeeming its notes again, with interest, and in March 1729, it resumed lending. To prevent similar attacks in
800-656: A draper's shop in the High Street. Further branches were opened in Dundee , Rothesay , Dalkeith , Greenock , Port Glasgow , and Leith in the first part of the nineteenth century. In 1821, the bank moved from its original head office in Edinburgh's Old Town to Dundas House , on St. Andrew Square in the New Town . The building as seen along George Street forms the eastern end of the central vista in New Town. It
880-599: A full range of banking and insurance services to personal, business, and commercial customers. As well as traditional branches, phone, and internet banking, Royal Bank of Scotland has operated "mobile branches" since 1946 using converted vans to serve rural areas. There are currently 19 mobile branches. The bank is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and
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#1732772987443960-509: A means of payment throughout Scotland and the rest of the United Kingdom; although they do not have the status of legal tender they are accepted as promissory notes . No paper money is legal tender in Scotland, even that issued by the Bank of England (which is legal tender in England and Wales). From May 2020 RBS began to replace the “Ilay” series with the new “Fabric of Nature” series of polymer banknotes. The first polymer notes,
1040-590: A mixture of single and dual carriageway sections, and traverses environments as diverse as the dense urban sprawl of inner city Manchester and the lightly populated region of rural east Lancashire . The road includes a short section of trunk road between the end of the M66 motorway near Ramsbottom and the M65 motorway west of Burnley . The road begins as Frodsham Street in the centre of Chester at its junction with Foregate Street A51 and heads north-eastwards out of
1120-656: A more easterly direction to again parallel the course of the north side of the motorway. The road crosses the M6 motorway halfway between Junctions 20 and 21, before passing south of Lymm on its way to its junction with the A556 road at Bowdon . At Bowdon the A56 turns sharply northwards, passing Altrincham and Sale , crossing the M60 Manchester Outer Ring Road at Junction 7 into Stretford . The A56 takes
1200-462: A price of just 31.6 pence per pre-consolidation share. The bonus payments paid to Royal Bank of Scotland staff subsequent to the 2008 United Kingdom bank rescue package caused controversy. Staff bonuses were nearly £1 billion in 2010, even though Royal Bank of Scotland reported losses of £1.1 billion for 2010. More than 100 senior bank executives were paid in excess of £1 million each in bonuses. Consequently, former CEO Fred Goodwin
1280-522: A rival offer. The bid by HSBC was not backed by the Bank of England and was subsequently rejected by the Royal Bank's board. However, the British government referred both bids to the Monopolies and Mergers Commission ; both were subsequently rejected as being against the public interest. The Bank did obtain an international partnership with Banco Santander Central Hispano of Spain, each bank taking
1360-457: Is Deansgate railway station . At this point Deansgate connects with Bridgewater Viaduct and Chester Road ( Whitworth Street West meets it at this point). The section to the south of Peter Street was known as Aldport Street until the end of the 18th century. The street contains many shops including a House of Fraser department store (known as Kendals from the 1830s until 2005), and Waterstones along with many public houses and bars including
1440-528: Is a major retail and commercial bank in Scotland . It is one of the retail banking subsidiaries of NatWest Group , together with NatWest (in England and Wales ) and Ulster Bank . The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank,
1520-702: Is a member of the Financial Ombudsman Service, UK Payments Administration and of the British Bankers' Association ; it subscribes to the Lending Code . The bank is covered by the Financial Services Compensation Scheme with The One account , Drummonds Bank and Holt's Military Banking under one licence. The Royal Bank of Scotland Group uses branding developed for the Bank on its merger with
1600-678: Is linked to Deansgate-Castlefield Metrolink station on the Metrolink system. In the first half of the 20th century, Deansgate was a route for trams operated by Manchester Corporation Tramways , and subsequently carried numerous bus services. During the 1970s, many bus routes were diverted or separated into two services terminating in the city centre and adjoining streets such as King Street were pedestrianised. In 2009, there were calls for traffic to be banned on Deansgate and for it to be pedestrianised. The calls were triggered in response to road works that closed parts of Deansgate. Some argued that
1680-647: The A59 road to the west of Broughton in North Yorkshire . Prior to the construction of the M65, M66 and connecting roads, the route continued through Edenfield and into Rawtenstall . The route then passed through the centre of Burnley and on to Nelson, this section is now marked as an extension of the A682. Royal Bank of Scotland The Royal Bank of Scotland plc ( Scottish Gaelic : Banca Rìoghail na h-Alba )
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#17327729874431760-464: The Bank of Scotland , which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established to provide a bank with strong Hanoverian and Whig ties. Following ringfencing of the Group's core domestic business, the bank became a direct subsidiary of NatWest Holdings in 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity
1840-767: The Barton Arcade shopping mall. The disused Manchester and Salford Junction canal runs underneath Deansgate below the Great Northern Warehouse. Today, the main transport links on Deansgate are the National Rail and Manchester Metrolink stations and a number of bus routes, including the Metroshuttle services. Deansgate Station was opened at Knott Mill on 20 July 1849 by the Manchester, South Junction and Altrincham Railway . It
1920-479: The British Empire in the latter half of the nineteenth century saw the emergence of London as the largest financial centre in the world, attracting Scottish banks to expand southward into England. The first London branch of the Royal Bank of Scotland opened in 1874. However, English banks moved to prevent further expansion by Scottish banks into England; and, after a government committee was set up to examine
2000-577: The Great Manchester Run weekend during mid-May. Usain Bolt set a world record for the 150 m straight in 2009 and Tyson Gay ran the 200 m straight in record time in 2010. Notes Bibliography A56 road The A56 is a road in England which extends between the city of Chester in Cheshire and the village of Broughton in North Yorkshire . The road contains
2080-681: The Hanging Ditch connecting the River Irk to the River Irwell at the street's northern end. (‘Gate’ derives from the Norse gata , meaning way). By the late 19th century Deansgate was an area of varied uses: its northern end had shopping and substantial office buildings while further south were slums and a working-class area around St John's Church (St John Street remaining upper middle class). The Wood Street Mission began to address
2160-656: The Spinningfields development. In early 2023, the road had cycle lanes and cycle laybys installed on the road. Deansgate begins at Victoria Street, a 19th-century creation. Its east side was occupied by the Victoria Buildings built on a triangular site by Manchester Corporation in 1876, but destroyed during a bomb raid in the Manchester Blitz in December 1940. A statue of Oliver Cromwell at
2240-793: The UAE , Qatar , Singapore and Hong Kong . The terms of the sale were not announced. The operations being sold has CHF 32-billion of client assets under management. Royal Bank of Scotland will continue to offer private banking and wealth management in the British Isles, as well as to international clients with a strong connection to the UK. On 20 March 2017, the British paper The Guardian reported that hundreds of banks had helped launder KGB -related funds out of Russia , as uncovered by an investigation named Global Laundromat . The Royal Bank of Scotland
2320-768: The Williams F1 team from 2005 until the end of 2010. They also were the title sponsor for the Canadian Grand Prix from 2005 until the end of 2008. They have supported tennis player Andy Murray since he was aged 13. In 2007, Royal Bank of Scotland was promoted itself as "The Oil & Gas Bank" including hosting a website www.oilandgasbank.com. A Platform London report estimated that the carbon emissions embedded within Royal Bank of Scotland' project finance reached 36.9 million tonnes in 2005, comparable to Scotland's carbon emissions. Royal Bank of Scotland helped to provide an estimated £8 billion from 2006 to 2008 to
2400-452: The 1969 arrows logo and branding. The background graphic on both sides of the notes was a radial star design which was based on the ornate ceiling of the banking hall in the old headquarters building, designed by John Dick Peddie in 1857. On the back of the notes were images of Scottish castles , with a different castle for each denomination: As of 30 September 2022 the Ilay series
2480-491: The A56 disappears from the maps, only to reappear approximately 6 miles (9.7 km) to the north east close to M65 Junction 13 at a junction with the A682 in central Nelson . Taking an easterly direction, the A56 goes through Colne before turning sharply to the north. Now cutting through the more rural parts of east Lancashire the road passes Foulridge and Earby , finally reaching its termination point where it merges with
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2560-531: The ATMs of most rival banks (although they could still use those of NatWest , Tesco , Morrisons and the Post Office ). In June 2012, computer problems prevented customers accessing accounts. Royal Bank of Scotland released a statement on 12 June 2013 that announced a transition in which CEO Stephen Hester would stand down in December 2013 for the financial institution "to return to private ownership by
2640-402: The Bank of Scotland's notes, which it acquired in exchange for its own notes, then suddenly presented to the Bank of Scotland for payment. To pay these notes, the Bank of Scotland was forced to call in its loans and, in March 1728, to suspend payments. The suspension relieved the immediate pressure on the Bank of Scotland at the cost of substantial damage to its reputation and gave the Royal Bank
2720-511: The Far East, and the Royal Bank saw advantages in creating a truly international banking group. Approval was received from the Bank of England , and the two banks agreed to a merger plan that would have seen Standard Chartered acquire the Royal Bank and keep the UK operations based in Edinburgh. However, the bid was scuppered by the Hongkong and Shanghai Banking Corporation (HSBC) which tabled
2800-557: The M66 up to its terminus near Edenfield . The A56 becomes dual carriageway, and traffic from the M66 can continue onto this trunk road section only. Traffic from the A680 and the A676 can also join the A56. Again heading roughly due northwards the A56 bypasses Haslingden and Accrington before joining the M65 motorway at Junction 8, slightly to the west of Burnley . After joining the M65,
2880-760: The Moon Under Water, formerly the Deansgate Cinema (or ABC Deansgate). At 820 square metres (8,800 sq ft), able to accommodate 1,700 customers, and employing 60 staff, it has been listed in The Guinness Book of Records as the largest public house in Britain . Elliot House was the Manchester Registry Office and before that the offices of the corporation's Education Department. The northern end of
2960-586: The National Commercial Bank of Scotland in 1969. The Group's logo takes the form of an abstract symbol of four inward-pointing arrows known as the " Daisy Wheel " and is based on an arrangement of 36 piles of coins in a 6 by 6 square, representing the accumulation and concentration of wealth by the Group . The Daisy Wheel logo was later adopted by Royal Bank of Scotland Group subsidiaries Ulster Bank in Ireland, Citizens Financial Group in
3040-667: The Prudential Regulation Authority. It participates fully in the Faster Payments Service , an initiative to speed up certain payments, launched in 2008. In 2006, The Royal Bank of Scotland Group undertook the first trial of PayPass contactless debit and credit cards in Europe. The bank is introducing Visa Debit cards with the technology for current accounts, which can be used to pay for purchases up to £30 by tapping an enabled card on
3120-473: The RBS initialism, with both appearing on bank signage. In spring 2014 the full bank name returned to print and television advertising in the form of a new logo with the omission of "The". In August 2016, Ross McEwan confirmed that the bank would use the full name for its business in Scotland in lieu of the RBS acronym, to distance the bank from its previous global expansion plans. Royal Bank of Scotland sponsored
3200-640: The Royal Bank of Scotland Group confirmed it had agreed to sell 308 Royal Bank of Scotland branches in England and Wales and 6 NatWest branches in Scotland to the Corsair consortium. The branches were due to be divested from the group in 2016 as a standalone business operating under the Williams & Glyn name, although, in August 2016, RBS cancelled the spin-off plan, stating that the new bank could not survive independently. It revealed it would instead seek to sell
3280-547: The Royal Bank of Scotland invented the overdraft , which was later considered an innovation in modern banking. It allowed William Hogg, a merchant in the High Street of Edinburgh, access to £ 1,000 (£170,833 in today's value) credit. Competition between the Old and New Banks was fierce and centred on the issue of banknotes. The policy of the Royal Bank was to either drive the Bank of Scotland out of business or take it over on favourable terms. The Royal Bank built up large holdings of
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3360-670: The Royal Bank of Scotland name in the process. Adam and Company continued as an RBS private banking brand in Scotland, along the same lines as the Messrs. Drummond and Child & Co . businesses in England. As part of the restructuring and brand management, it was decided that NatWest would become RBS Group's primary customer-facing brand in England and Wales . As a result, all Royal Bank of Scotland branded branches in England and Wales were closed as they were located close to NatWest branded branches, which customers would be able to use for counter services instead. On 14 February 2020, it
3440-438: The Royal Bank of Scotland stock price went from a high of over 6,900 pence in early 2007 (taking into account a 3 for 1 reverse stock split that took place later that year) to around 120 pence February 2009 and up to 187 pence by December 2011. In 2012 RBS shares were consolidated on a 1 for 10 basis. The Stock has not recovered from the financial shock of early 2009 and is currently at 316 pence (30 October 2015.) This equated to
3520-877: The Scottish version of Royal Bank of Scotland would become a subsidiary to the London-based holding company. Therefore, tax would be paid chiefly through the London-based company, thus depriving Scotland of significant revenues. This would break a near 300-year period in which the Royal Bank of Scotland has been headquartered in Edinburgh . In March 2015, Royal Bank of Scotland agreed to sell its internationally managed private banking and wealth management business to Switzerland 's Union Bancaire Privée UBP SA . The sale includes client relationships managed under Coutts and Adam and Company brands in Switzerland , Monaco ,
3600-477: The United States and, until it was sold in 2010, payment processing company Worldpay . From 2003, the bank began to move away from referring to both the Group brand and its retail banking brand as "The Royal Bank of Scotland", instead of using the "RBS" initialism. This was intended to support the positioning of the bank as a Global financial services player as opposed to its roots as a national bank, however, "The Royal Bank of Scotland" continued to be used alongside
3680-443: The Williams & Glyn assets and bringing the sale process to a close. In May 2018, it was announced that 162 RBS branches in England or Wales that were to have become Williams & Glyn would be closed, resulting in almost 800 job losses, with customers able to use nearby NatWest branches for counter services instead. The closure of a further 54 branches was announced in September 2018 with an expected loss of 258 jobs. Up until
3760-494: The arrangements of the 1707 Acts of Union . The "Equivalent Society" became the "Equivalent Company" on 21 November 1724, and the new company wished to move into banking. The British government received the request favourably as the "Old Bank", the Bank of Scotland , was suspected of having Jacobite sympathies. Accordingly, the "New Bank" was chartered on 31 May 1727 as the Royal Bank of Scotland, with Archibald Campbell, Lord Ilay , appointed its first governor. On 31 May 1728,
3840-443: The bank to this day. The rest of the nineteenth century saw the bank pursue mergers with other Scottish banks, chiefly as a response to failing institutions. The assets and liabilities of the Western Bank were acquired following its collapse in 1857; the Dundee Banking Company was acquired in 1864. By 1910, the Royal Bank of Scotland had 158 branches and around 900 staff. By 1969, economic conditions were becoming more difficult for
3920-411: The bank was in talks to sell its equity derivatives business to a buyer rumoured to be BNP Paribas . In September 2014, Royal Bank of Scotland announced that they would move their headquarters to London in the event of a Yes vote in the Scottish referendum . Whilst this move would not affect day to day banking services in Scotland , there would be several major ramifications; the key issue being that
4000-419: The banking sector. In response, the Royal Bank of Scotland merged with National Commercial Bank of Scotland . The merger resulted in a new holding company , the National and Commercial Banking Group , with 662 branches in Scotland, which all transferred to the Royal Bank name. The holding company was renamed The Royal Bank of Scotland Group in 1979 and became NatWest Group in July 2020. The expansion of
4080-412: The camp, including at RBS branches in the surrounding area. 82 percent of Royal Bank of Scotland's shares were acquired by the UK government as part of the 2008 United Kingdom bank rescue package . The UK Government bought Royal Bank of Scotland stock for £42 billion, representing 50 pence per share. In 2011, the shares were worth 19 pence, representing a taxpayer book loss of £26 billion. Historically,
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#17327729874434160-440: The city centre. In 2006, A1 Racing cars visited the city to launch A1 Grand Prix, and used Deansgate as part of the route. In August 2011, thousands packed the street as Jenson Button drove a McLaren MP4-23 along Deansgate as part of the Vodafone Vip Live Manchester festival. In 2001, the inaugural Great City Games took place on Deansgate, which featured a 150-metre sprinting track. The event has become an annual fixture on
4240-448: The city. Just outside the city, the A56 crosses Junction 12 of the M53 motorway , continuing in a north easterly direction. The road passes through the towns and villages of Mickle Trafford , Dunham on the Hill , Helsby and Frodsham whilst roughly paralleling the course of the south side of the M56 motorway . After leaving Frodsham , the A56 crosses the M56 at Junction 11 and passes the towns of Runcorn and Warrington , taking up
4320-467: The company's AGM were targeted by protests, and a boycott of the bank was promoted, between 2007 and 2011. A number of groups were involved including Platform London , People & Planet , the World Development Movement , Friends of the Earth and Friends of the Earth Scotland . In August 2010 Climate Camp UK held a week-long camp in the parkland around RBS' global headquarters at Gogarburn, Edinburgh. A number of disruptive protests took place during
4400-604: The disablement of a major traffic route in the city centre could have a damaging economic effect, while others argued that a vehicle-free Deansgate would attract more shoppers. Victoria Street, the short section at the North end of the road by Manchester Cathedral has been pedestrianised. In 2019, Extinction Rebellion occupied a section of the road from St Mary’s Gate to John Dalton Street for four days, with tents and organised talks on climate change, sustainable living and resistance. This reignited calls for it to be pedestrianised. In 2022, widened cycle lanes were put in place, and
4480-453: The division to another bank. In February 2017, HM Treasury suggested that the bank should abandon the plan to sell the division, and instead focus on initiatives to boost competition within business banking in the United Kingdom. The plan would be subject to approval by the European Commission. A final agreement, known as the "Alternative Remedies Package", was reached with the European Commission in September 2017, allowing RBS Group to retain
4560-436: The end of 2014". For his part in the procession of the transition, Hester received 12 months' pay and benefits worth £1.6 million, as well as the potential for £4 million in shares. The Royal Bank of Scotland stated that, as of the announcement, the search for Hester's successor would commence. Hester was replaced as CEO by New Zealander Ross McEwan , formerly the head of the bank's retail arm, on 1 October 2013. McEwan, who
4640-414: The energy corporation E.ON and other coal-utilizing companies. In 2012, 2.8% of Royal Bank of Scotland' total lending was provided to the power, oil and gas sectors combined. According to Royal Bank of Scotland' own figures, half of its deals to the energy sector were to wind power projects; although, this only included project finance and not general commercial loans. Responding to this RBS branches and
4720-415: The first governor of the bank. The image was based on a portrait of Lord Ilay painted in 1744 by the Edinburgh artist Allan Ramsay . The front of the notes also included an engraving of the facade of Dundas House , the mansion of Sir Laurence Dundas in St. Andrew Square, Edinburgh , which was built by Sir William Chambers in 1774 and later became the bank's headquarters; the bank's coat of arms ; and
4800-513: The future, the Bank of Scotland put an "option clause" on its notes, giving it the right to make the notes interest-bearing while delaying payment for six months; the Royal Bank followed suit. Both banks eventually decided that the policy they had followed was mutually self-destructive and a truce was arranged, but it still took until 1751 before the two banks agreed to accept each other's notes. The bank opened its first branch office outside Edinburgh in 1783 when it opened one in Glasgow , in part of
4880-503: The implosion of the Royal Bank of Scotland in 2008 while under the direction of directors at its Edinburgh headquarters, and its rescue by taxpayer funds, it became a subsidiary of the UK Government. On 20 January 2011, Royal Bank of Scotland were fined £28.58 million for anti-competitive practices that were enacted with Barclays in relation to the pricing of loan products for large professional services firms. Also in 2011, Royal Bank of Scotland prevented Basic Account holders from using
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#17327729874434960-530: The matter, the Scottish banks chose to drop their expansion plans. An agreement was reached, under which English banks would not open branches in Scotland and Scottish banks would not open branches in England outside London. This agreement remained in place until the 1960s, although various cross-border acquisitions were permitted. The Royal Bank's English expansion plans were resurrected after World War I when it acquired various small English banks, including London-based Drummonds Bank (in 1924), which continued as
5040-639: The middle of the 19th century, privately owned banks in Great Britain and Ireland were permitted to issue their own banknotes, and money issued by provincial Scottish, English, Welsh and Irish banking companies circulated freely as a means of payment. While the Bank of England eventually gained a monopoly for issuing banknotes in England and Wales, Scottish banks retained the right to issue their own banknotes and continue to do so to this day. The Royal Bank of Scotland, along with Clydesdale Bank and Bank of Scotland , still prints its own banknotes . Notes issued by Scottish banks circulate widely and may be used as
5120-417: The name of Chester Road and continues north-eastwards through Stretford and Hulme into Manchester city centre, where it takes on the name Deansgate , one of Manchester's main shopping streets and thoroughfares. At the end of Deansgate, the A56 takes on the name of Victoria Street as it passes Manchester Victoria railway station . Since 2012, most of Victoria Street has been pedestrianised with planters, but
5200-403: The northern corner commemorated Manchester's support for Parliament in the English Civil War . The statue was a gift to the city by Mrs Abel Heywood in memory of her first husband, Thomas Goadsby and was the first large statue of Cromwell to be raised in the open anywhere in England. At the northern end of Deansgate is Victoria Street, on which lies Manchester Cathedral , and at the southern end
5280-406: The obverse, with a quote from her work 'The Connection of the Physical Sciences', and Burntisland beach in the background. The reverse displays two otters and an excerpt from the poem ‘Moorings’ by Norman MacCaig . Prior to the current polymer series, the Royal Bank "Ilay" series of banknotes were in circulation, so-called because each denomination featured a picture of Lord Ilay (1682–1761),
5360-434: The retailer's terminal. In an effort to enhance security, Royal Bank of Scotland and NatWest introduced hand-held devices in 2007 for use with a card to authorise online banking transactions. Royal Bank of Scotland is a member of the Cheque and Credit Clearing Company Limited, Bankers' Automated Clearing Services Limited, the Clearing House Automated Payment System Limited and the LINK Interchange Network Limited. It
5440-435: The road markings still remain underneath. Turning sharply to the north-west, the A56 leaves Manchester and goes through the Broughton district of Salford on its way to Prestwich , where it is called Bury New Road, where it again crosses the M60 Manchester Outer Ring Road at Junction 17. Heading due north the road passes Whitefield and cuts through Bury before crossing the M66 motorway at Junction 1. The road follows
5520-447: The social problems in 1869 and its work continues in a very different form. From Peter Street southwards the eastern side was dominated by the viaducts of the Great Northern and Manchester South Junction Railways , whilst the Rochdale Canal crossed below Deansgate to connect with the other waterways beyond. In the late 20th century Deansgate was home to the head office of the Manchester Evening News newspaper, now replaced by part of
5600-426: The street adjoined the Shambles and was badly damaged in the 1996 Manchester bombing . The area was redeveloped and houses several new buildings, including No. 1 Deansgate and the Manchester branch of Harvey Nichols . Other buildings in the Deansgate area include the Royal Bank of Scotland , the Beetham Tower and the redeveloped Great Northern Warehouse . Historic buildings include the John Rylands Library and
5680-432: The £5, came into circulation on 27 October 2016. The £5 note features Nan Shepherd on the obverse accompanied by a quote from her book 'The Living Mountain', and the Cairngorms in the background. The reverse shows a pair of mackerel , with an excerpt from the poem ‘The Choice’ by Sorley MacLean . The second polymer note to be introduced was the £10 note, which entered circulation in 2017. It shows Mary Somerville on
5760-400: Was 56 years old at the start of his tenure, will receive no bonus for his work in 2013 or at the end of 2014, and his pension will be replaced by an annual cash sum equivalent to 35 percent of his salary as CEO . In November 2013, Royal Bank of Scotland announced it was in talks to sell a shipping loan in ’Eagle Bulk Shipping Inc.’ worth $ 800 million. It was also announced in that month that
5840-530: Was a ford and the road to Deva (Chester). Along it were several civilian buildings and a mansio in the vicinity of the Hilton Hotel . Part of it was called Aldport Lane from Saxon times. (Aldport was the Saxon name for Castlefield .) Until the 1730s the area was rural but became built up after the development of a quay on the river. The road is named after the lost River Dene, which may have flowed along
5920-453: Was announced that the holding company of Royal Bank of Scotland (Royal Bank of Scotland Group plc) would be renamed NatWest Group plc later that year, taking the brand under which the majority of its business is delivered. The change took place on 22 July 2020. The investment management business of Adam and Company was acquired by Canaccord Genuity Group in 2021 and its banking and lending business transferred to Coutts & Co. in 2022 using
6000-416: Was designed for Sir Lawrence Dundas by Sir William Chambers as a Palladian mansion, completed in 1774. An axial banking hall (Telling Room) behind the building, designed by John Dick Peddie , was added in 1857; it features a domed roof, painted blue internally, with gold star-shaped coffers. The banking hall continues in use as a branch of the bank, and Dundas House remains the registered head office of
6080-596: Was listed among the 17 banks in the UK that were "facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers," as the bank "handled $ 113.1 million" in Laundromat cash. Other banks facing scrutiny under the investigation included HSBC , NatWest , Lloyds , Barclays and Coutts . Coutts , owned by RBS, had "accepted $ 32.8m worth of payments via its office in Zürich , Switzerland." NatWest , also owned by RBS,
6160-415: Was named for allowing through $ 1.1 million in related funds. In early 2018, The Royal Bank of Scotland Group announced its plans for restructuring to comply with new UK-wide rules on ring-fencing retail banking operations from riskier investment banking operations. As part of this restructuring, all retail banking assets of the existing Royal Bank of Scotland were transferred to Adam and Company, which assumed
6240-569: Was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separate PRA banking licence) was renamed The Royal Bank of Scotland, with Adam and Company continuing as an RBS private banking brand until 2022. The bank traces its origin to the Society of the Subscribed Equivalent Debt, which was set up by investors in the failed Company of Scotland to protect the compensation they received as part of
6320-519: Was stripped of his knighthood in mid-January, and newly appointed CEO Stephen Hester renounced his £1 million bonus after complaints over the bank's performance. In 2014, comedian Russell Brand staged a protest against bonuses outside RBS's offices in London. RBS' central role in the financial crisis led to it being targeted by a protest camp, ' Occupy Edinburgh ', who set-up outside their Head Branch on St. Andrews Square in October 2011. The camp
6400-511: Was withdrawn, along with all non-polymer banknotes in the United Kingdom. Occasionally the Royal Bank of Scotland issues special commemorative banknotes to mark particular occasions or to celebrate famous people. The Royal Bank was the first British bank to print commemorative banknotes in 1992 followed by several subsequent special issues. These notes are much sought-after by collectors and they rarely remain long in circulation. Examples to date have included: The Royal Bank of Scotland provides
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