The group first announced its intention to rebrand to NatWest Group plc in February as part of its 2019 results.

And now it has confirmed the name change will take place on Wednesday 22 July, though the exact timing will depend on when it is formally registered at Companies house.

At the time RBS said it wanted to align the parent company name with the brand under which the majority (80%) of business is delivered.

It added that customers will see no change to products or services as a result of the change and “will continue to be served through the brands they recognise today, including the Royal Bank of Scotland”.

A statement read: “A subsequent announcement will be made when the name change becomes effective, which will also provide an update regarding trading under RBS’s revised tickers.

“Until the publication of such an announcement, trading will continue under the existing tickers. No action is required on the part of any equity or debt holders with respect to their rights as an equity or debt holder.”