The Royal Bank of Scotland may look to rebrand after continued reputational damage stemming from a difficult decade since the Global Financial Crisis, according to the Times.
RBS chair Howard Davies told the publication that the name of the bank is now under review as it looks to move focus to investing in its other brands such as Coutts, Ulster Bank and NatWest.
Ten years on from the bank’s call for emergency funding to prevent its collapse, Davies says continued reputational damage continues to weigh RBS down.
Last week the bank announced that it would close a further 54 branches across England and Wales, resulting in more than 250 job losses.
The cuts are the third round this year and follow an early announcement of plans to restructure the group’s business model.
Despite this, RBS said in March it will continue to push its plans for a stand-alone digital bank.