The ratings on Royal Bank of Scotland Group PLC (RBSG)--the ultimate holding company of The Royal Bank of Scotland PLC (RBS; AA/Negative/A-1+) and National Westminster Bank PLC (NatWest; AA/Negative/A-1+)--reflect its very strong business profile, strong risk management, and strong profitability. Capitalization is a relative weakness, by Standard&Poor Ratings Services' measures. With total reported assets of £1,011.3 billion ($2,023 billion) at June 30, 2007, RBSG is one of the world's largest universal banks. It enjoys a prominent position in U.K. financial services, which includes being the largest corporate and business bank, and has the most extensive branch network. The loan book is very well diversified and asset quality remains solid. Liquidity is good and compares well with peers'. Market
