Sheryl Crow might have sung “A change will do you good”, but RBS’ [NWG] share price begs to differ.
Known as the NatWest Group since 22 July, RBS’ share price had already tanked over 50% in 2020 by the time the name change took place as the coronavirus knocked the UK economy for six. Since the rebrand, NatWest’s share price has slipped a further 12.62% as it faces the same headwinds as other UK banks.
Adding to NatWest’s share price misery is an influential study criticising the bank’s customer service. This is a dangerous position to be in when challenger banks like Monzo are building brands on straight-forward, in-app customer support and the ability to open a new bank account in a single day from anywhere with an internet connection.
Given customers’ increasing digital awareness, this could be a huge blind spot for NatWest. So, just how great is