6.1 Royal Bank of Scotland Group

Royal Bank of Scotland Group is headquartered in Edinburgh and currently holds more than £738 billion in assets. Key subsidiaries of the group include Royal Bank of Scotland, NatWest and Ulster Bank, as well as private banking subsidiaries Coutts & Co, Adam and Company and Drummonds Bank.

The group has a policy which restricts investments in nuclear weapons producers (see section 6.1.1), but it is still heavily invested in 15 of the world’s top 20 nuclear weapons producing companies. The 2018 DBOTB report shows that RBS Group made approximately £2.6 billion available to the following companies between 2014 and 2017:

Company Amount (£ million)
Airbus

95.6

BAE Systems

   93.5

Bechtel

727.9

Boeing

222.6

BWX Technologies

42.8

General Dynamics

122.0

Honeywell International

218.4

Huntingdon Ingalls Industries

124.2

Jacobs Engineering

289.7

Larsen & Toubro

25.0

Lockheed Martin

89.9

Northrop Grumman

270.5

Safran

130.6

Serco

69.9

Thales

87.0

Total

2,609.6

RBS Group provided financing to these companies in the form of loans and through the underwriting of bond issuances (click here for details).