National Westminster Bank

National Westminster Bank Plc (NatWest) is a commercial bank headquartered in London, U.K. The bank is considered one of the four biggest banks (the Big Four) in the UK. The institution operates 1,628 retail branches in Britain and 295 branches and business centers in Northern Ireland and the Republic of Ireland.

The number of employees working for NatWest is about 33,300. Stephen Hester is currently its Chief Executive and Chairman is Sir Philip Hampton. NatWest’s shares are traded on the London Stock Exchange under the symbol NWBD.L.

The 1968 merger between National Provincial Bank (established in 1833), Westminster Bank (founded in 1834), and the District Bank (established in 1829) inaugurated the National Westminster Bank. The new bank commenced trading on January 1, 1970.

A decade later, NatWest launched an international expansion campaign. In 1975, the bank opened its first offices in Scotland. A further expansion to North America and Western Europe followed shortly. Overseas representatives were established in different parts of the world.

NatWest went down in history as one of the co-founders of the Joint Credit Card Company, introducing the Access credit card (later renamed to MasterCard), the computerised cash dispensers, Servicetills, and Switch debit card (Maestro).

At present, National Westminster Bank Plc is a subsidiary of The Royal Bank of Scotland Group plc. Its acquisition, completed in March 2000, was the biggest take-over in the UK banking history.

Together with its subsidiaries, NatWest provides various banking, financial, and financial –related services, primarily in U.K., as well as around the world.

The personal banking services offered by the bank include: current accounts; savings; investment and financial planning services; fixed and variable rate loans; overdraft facilities; credit and debit card transactions; mortgage opportunities; as well as various types of insurance; travel money, international payments; foreign currency accounts and much more. For private banking customers, NatWest provides the following: investment services; wealth management; retirement planning, etc.
Business banking customers enjoy all available services, products and support for new and running business. In addition, NatWest offers an extensive range of commercial banking services and products.

Apart from its main activities, the bank has been involved in sponsorship of major cricket tournaments. NatWest is also the largest sponsor of the Natwest Southern Paintball League.