The Government has sold another chunk of its stake in NatWest, continuing the process of bringing the high street bank into private ownership.
A notice on Monday confirmed that the Government’s shareholding in the bank has fallen by about one percentage point to 26.95 per cent. NatWest received several multibillion-pound bailouts during the financial crisis in 2008 and 2009, leaving the Government with an 84 per cent stake in what was then known as Royal Bank of Scotland. But the Treasury has been selling down its stake in the lender, which also owns Coutts.
NatWest chief executive Paul Thwaite said: “We are pleased with the recent momentum in the reduction of HM Treasury’s stake in the bank. “Returning NatWest Group to private ownership is a shared ambition and we believe it is in the best interests of both the bank and all our shareholders.” Last month, the chairman of NatWest said the banking sector is “evolving rapidly” as he acknowledged that the lender faced “unexpected challenges” during 2023.
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