Royal Bank of Scotland plc

The Royal Bank of Scotland was founded as a corporation by royal charter in Edinburgh in 1727. It grew thanks to its successful note issue and correspondent relationships with Scottish provincial banks. In 1783 it opened its first branch in Glasgow, and before long this branch was more profitable than the Edinburgh head office.

The bank had opened 6 further branches by 1836 and a number of other branches were acquired following the collapse of Western Bank of Scotland in 1857 and of City of Glasgow Bank in 1878. The Royal Bank acquired Dundee Banking Co in 1864 and opened a branch office in the City of London in 1874. By 1910 the bank had 158 branches and 900 staff.

During the First World War the volume of banking business grew, prompting a series of major amalgamations after 1918, including moves to affiliate certain Scottish and English banks. The Royal Bank acquired Messrs Drummond of London in 1924; Williams Deacon's Bank in 1930; and Glyn, Mills & Co, which owned Holt & Co and Child & Co, in 1939. Williams Deacon's and Glyn, Mills continued to operate as separate entities and the business became known as The Three Banks Group.

In 1969 the Royal Bank of Scotland merged with National Commercial Bank of Scotland. Under the arrangements for this merger, a new holding company called National & Commercial Banking Group (later the Royal Bank of Scotland Group and, from 2020, NatWest Group), was created to own the Royal Bank of Scotland and its other constituents.

The Royal Bank of Scotland continued to flourish, playing a leading role in lending to businesses serving the North Sea oil and gas industry. In 1982 the Royal Bank of Scotland acquired Lockerbie Savings Bank and in 1985 it acquired Annan Savings Bank.

In 1985, following abortive takeover attempts by Hongkong and Shanghai Banking Corporation and Standard Chartered Bank, the businesses of the Royal Bank of Scotland Ltd and Williams & Glyn's Bank were merged fully so that all branches became part of the Royal Bank of Scotland plc.

Published histories

• The Royal Bank of Scotland: a history (Edinburgh: privately published by the Royal Bank of Scotland, 1998)
• S G Checkland, Scottish banking. A history, 1695-1973 (Glasgow: Collins, 1975)
• N Munro, The history of the Royal Bank of Scotland, 1727-1927 (Edinburgh: privately published by the Royal Bank of Scotland, 1928)
• M Pohl and S Freitag, Handbook on the history of European banks (Aldershot: Edward Elgar, 1994)
• R Saville, Bank of Scotland. A history, 1695-1995 (Edinburgh: Edinburgh University Press, 1996)

Our archive holdings

A summary list of our archival records of NatWest Group plc can be found on the Archives Hub website. 

Summary of archive holdings elsewhere

• The Bank of England Archive: Governor’s files re bank mergers, incl the acquisition of Williams Deacon’s Bank by the Royal Bank of Scotland 1927-35, acquisition of Glyn, Mills & Co by the Royal Bank of Scotland 1938-39, possible sale of Williams Deacon’s Bank by the Royal Bank of Scotland to District Bank or Martins Bank 1938-43; possible merger of the Royal Bank of Scotland as part of The Three Banks Group with one of the ‘Big Five’ banks 1962, possible merger of the Royal Bank of Scotland with Bank of Scotland and others 1965-67, possible merger of the Royal Bank of Scotland as part of The Three Banks Group with National Commercial Bank of Scotland 1967, merger of the Royal Bank of Scotland with National Commercial Bank of Scotland 1967-70 (Ref: G1/10-11, 13, 490); committee of treasury files re the Royal Bank of Scotland, Williams Deacon’s Bank and Lancashire Cotton Corporation and Combined Egyptian Mills Ltd 1928-38 (Ref: G14/254-255); discount office file re the Royal Bank of Scotland 1941-68 (Ref: C48/67)
• University of Glasgow Archives and Special Collections: Annual reports 1871-1926 (Ref: UGD 94/10/4); court minutes extracts 1727-1918; balance sheets 1866-1922; computed balance sheets 1817-64; governor's speeches to general meetings 1930-39; extracts from letters of Glasgow joint agent 1801-07 (Ref: UGD/129) Also holds copies of extracts from minutes, Glasgow agents' correspondence, balance sheets 1727-1973 (Ref: UGD 129/2/1)
• National Records of Scotland: John Clerk: letter re directorship 1727-28, account books 1740-47 (Ref: GD8/3208; GD18/2241); warrants of charter 1727-89 (Ref: CS96/3484); papers of Innes family as officials of the bank 1733-1816 (Ref: GD113); papers of Patrick Monzie of Campbell 1750-87 (Ref: GD190/3/304); list of proprietors 1751 (Ref: GD18/5882); bonds 1768, 1777 (Ref: GD30/249, 379); correspondence of William Forbes of Callander with cashier 1785 (Ref: GD171/223); note on method of giving credit 18th cent (Ref: GD18/5884); papers and passbooks of Menzies of Shian 1843. (Ref: GD306/7)
• The National Archives: Application by bank for charter n.d. (Ref: T1/3472)
• National Library of Scotland: Miscellaneous papers 1696-1813; bonds in favour of bank 1729-81; papers of Lord Milton re administration, relationships with other banks, army payments, banknote circulation etc 1728-65; discharges 1728-74; receipts 1728-1800; passbooks 1728-88, 1867-68; correspondence of officials 1734-1943; officers' voting slips 1734; orders in favour of bank 1737-40; proposals to bank 1741-42; accounts with bank 1745-58; demand by Prince Charles Edward Stuart 1745; bills 1753-67; obligations 1750-54; declaration 1754; report on memorial 1792; note of bills discounted for Earl of Elgin 1835; certificate 1888. Extensive minor deposits in family and other collections. Contact the repository for further information.
• National Library of Scotland Moving Image Archive: Cinematographic promotional films: A Diabolical Liberty, re payment of wages into bank accounts 1967 (Ref: 0333), A Rare Tear, re savings stamps 1969 (Ref: 0334), A Step Ahead, re the bank’s computerisation 1979 (Ref: 0366), Portrait of The Royal Bank of Scotland 1979 (Ref: 1905)