Dear Customer

You might remember that last year Santander withdrew from the deal to buy RBS branches in England and Wales. I'm now delighted to be able to update you on the sale and what it means for you.

We've reached an agreement to work with a group of investors to create a new challenger bank, called Williams & Glyn's, which will provide increased customer choice in the UK banking market.

Who are Williams & Glyn's?

Williams & Glyn's will become your new bank when it returns in 2015. You may remember the name. It was part of the RBS Group and was known as the ‘alternative bank' when it was last on the high street nearly 30 years ago. It introduced a number of new ideas to British banking, was famous for customer service and built a loyal following.

Our new investors are a consortium led by Corsair Capital and Centerbridge Partners. We expect Williams & Glyn's to be floated on the London Stock Exchange in the next two or three years.

A new bank you can help us design

If you'd like to get involved in creating our new bank, go to rbs.co.uk/williamsandglyns to register your interest. We'll be holding regular regional events and online discussion forums where you can bring your questions and ideas and get involved. We'd really appreciate your thoughts.

We'll continue to help with your banking

In the meantime, it's business as usual. We'll keep looking after your accounts as normal and give you plenty of notice if there are any changes that affect you

We've included some questions and answers below. If you'd like more information, you can go to rbs.co.uk/williamsandglyns

Thank you for continuing to bank with us.

Yours sincerely,

Paul Fox
Managaing Director, RBS England & Wales