Assignment 1.1 – Business type and ownership
The two contrasting businesses I have chosen:
* NatWest - Building society bank [National Company with slight international affairs]
NatWest also known as National Westminster Bank is the largest retail and commercial bank in the UK. It is a business which supplies monies to the public in terms of borrowing, it also allows clients to store their own money in a safe bank account. Additionally NatWest also allows business accounts to be created for any big or small businesses.
In 2008 NatWest suffered a £20 billion bail-out by the public which made taxpayers have an 84% shareholding in the bank.
Type of Business
NatWest is classified as a Plc (Public limited Company) because:
* It is a bank building society which specialises in property mortgages and public loans
* The shares of the bank is freely sold to the public hence why it is on the stock exchange
* The business uses taxpayers money to be bailed out hence why it is a publicly owned bank
Although it is a public bank, it is also a profit making business. This is achieved by charging interest rates on loans and mortgages or any other sort of borrowing method.
Natwest offers many features to the public such as Personal banking, online banking, mortgages, bank accounts, credit cards, savings, loans and much more.
Helpful banking is one of their key criteria aswell.
Since Natwest is under The Royal Bank of Scotland Group Plc and is in the Tertiary sector, it operates internationally through its two principle subsidiaries, RBS and NatWest.
NatWest provide a full range of banking and insurance services to personal business and commercial customers including the first dedicated bank account in Britain to be delivered and supported entirely in the polish language.
In 2005 NatWest announced the introduction to mobile banking service, providing banking facilities to remote communities in Cornwall, St...