The Royal Bank of Scotland Group plc (RBS) provides financial products and services to personal, commercial, corporate and institutional customers. The Company conducts its business through three franchises and seven operating segments. The Company's Personal & Business Banking (PBB) franchise consists of two segments: UK Personal & Business Banking (UK PBB), including Williams & Glyn, and Ulster Bank. The Commercial & Private Banking (CPB) franchise consists of two segments, Commercial Banking and Private Banking. The Company's other segments are Corporate & Institutional Banking (CIB), Central Functions and RBS Capital Resolution (RCR). RBS operates in the United Kingdom, the United States and internationally through its principal subsidiaries, The Royal Bank of Scotland plc (the Royal Bank) and National Westminster Bank Plc (NatWest). Both the Royal Bank and NatWest are clearing banks in the United Kingdom.