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RBS looks at The One Account and First Active brands

Royal Bank of Scotland is understood to be considering how its two brands – The One Account and First Active – are positioned within the group.

An internal memo has put a block on all communications relating to the two brands while they are under review.

One industry expert says RBS could be looking at merging the two brands.

At the end of last year, First Active reported 1bn worth of mortgage applications, having only started in the UK in June 2004. Overall, RBS reported 7.76bn of mortgage lending in 2004, 20 per cent higher than the year before, with most lending from The One Account. A spokesman for The One Account says there are no changes planned for the brands.

Purely Mortgages chief executive Mark Chilton says: “I have not heard of any changes but both the brands are effectively run from the same management team. RBS is becoming aggressive and trying to power up its intermediary side. One wonders where First Active sits within that.”

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