The Royal Bank of Scotland
NatWest Group operates internationally through its four principal subsidiaries: NatWest Holdings which owns The Royal Bank of Scotland, National Westminster Bank and Ulster Bank Ireland DAC; NatWest Markets; NatWest Markets N.V.; and The Royal Bank of Scotland International. The NatWest sub-group of companies comprises National Westminster Bank and its subsidiary and associated undertakings. , the principal subsidiary undertakings of NatWest are: