NatWest Holdings Limited is a wholly-owned subsidiary of NatWest Group plc and is the holding company for our ring-fenced bank businesses. Its main subsidiaries are National Westminster Bank Plc, The Royal Bank of Scotland plc and Coutts & Company. A common board structure operates across NatWest Holdings Limited, National Westminster Bank Plc and The Royal Bank of Scotland plc with the same directors serving on all 3 boards.