Valuable artworks, including a print by David Hockney, paintings by Peter Howson, and a large sculpture by Eduardo Paolozzi, are just some of the 2000 original pieces of art in the bank’s collection.
In 2009, the Royal Bank of Scotland (RBS) announced it would either sell off or make large portions of its art collection available to the public in a bid to be “more open, accountable and transparent” after it received a £45.5 billion bailout the previous year.
The UK Government had owned the majority of RBS following the bailout, but the bank was returned to full private ownership in May this year.
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In 2009, RBS owned Britain’s largest corporate art collection and The National can reveal that RBS still owns 2000 of the 4000 original artworks.
When asked if RBS would disclose the value of its collection, which was estimated to be around £20 million in 2009, it declined.
It claimed that the value would be heavily skewed towards a small number of works, with the vast majority having a relatively low monetary value.
Although a spokesperson for the bank said that RBS has sold, loaned or displayed much of its collection, The National understands that a number of original pieces have remained behind closed doors at the bank’s offices.
The bank’s spokesperson added that RBS is the single biggest individual lender to the Edinburgh and Lothians Health Foundation, and pointed out that works like Barbara Hepworth’s Rockform (Porthcurno) is in Wolverhampton Central Library and Art Gallery, and the historically significant portrait of Daniel O’Connell by 19th century Scottish artist David Wilkie is currently on display at the National Gallery of Ireland in Dublin.
However, when the bank was asked by The National about the whereabouts for a number of other artistically important pieces, RBS gave its offices at Gogarburn and St Andrews Square, both in Edinburgh, as their location.
This includes works from Scottish playwright and designer John Byrne and a large Paolozzi sculpture. The bank claims its location was “carefully selected” so the public could still view it in the business park.
Other works from the likes of Byrne, William Mosman’s portrait of the RBS cashier John Campbell from 1759, and English painter Hockney, the bank acknowledged it had but did not disclose their whereabouts.
RBS claims the artworks in its offices are in areas where they can be viewed by its colleagues, customers, and the public.
However, pictures online of its St Andrews Square office show a large quantity of its art collection in meeting rooms and other areas which appear to be closed off to the general public.
RBS also failed to acknowledge The National’s request for information regarding artwork, which is believed to be in its possession, from one of Scotland’s best known portrait artists Gerard M Burns, one of the country’s best known colourists Samuel Peploe, and the German neo-classicist painter Johann Zoffany.
When approached by The National, the Public Catalogue Foundation, a charity that operates under Art UK – which digitises and catalogues art collections across the country so that it’s “available to everyone”, said RBS has not participated in their programme.
The foundation had reportedly previously approached RBS to take part in its scheme, but the bank declined.
The bank confirmed it had sold a number of artworks, including a painting by Scottish artist Jack Vettriano (below), who died earlier this year, and English artist LS Lowry, but did not divulge how much they sold for or when.
Although RBS said it has lent hundreds of artwork to organisations across the country, it failed to produce any form of listing.
A NatWest Group spokesperson said: “Since 2009, we have sold, loaned or donated hundreds of pieces of art from our collection.
“One of our main objectives is to have as much of our collection on display as possible at any one time – including in areas where it can be viewed by our colleagues, customers and the public.
“We also have a number of works on short- and long-term loans to museums and healthcare organisations and are always open to new opportunities to increase access.”
