Government offloads £1.1bn chunk of state-backed lender NatWest

Business

The government has sold a £1.1bn chunk of NatWest taking its holding in the state-backed bank to less than 60%.

NatWest, then known as Royal Bank of Scotland, was saved by taxpayers in a £45.5bn rescue deal during the financial crisis more than a decade ago.

The latest deal reduces the Treasury’s holding in the lender from 61.7% to 59.8% after a tranche of shares was sold back to NatWest – rather than to the market.

Articles You May Like

Stock version of the Lucid Air Grand Touring wins fastest production car at Goodwood 2022
Ukraine War: Time running out for Lysychansk
Bailey opposes Treasury plot to overrule financial regulators
‘An inspiration’: Deborah James dies, aged 40
Doubts over my premiership as PM are ‘settled’, Johnson says