The UK Government has sold approximately £1.26bn worth of shares in NatWest, marking a significant step towards returning the bank to full private ownership.
This transaction reduced the Government’s stake in the bank to around 38.6%, down from a high of approximately 84%.
This latest sale is the sixth such transaction since the Government stepped in to support NatWest during the global financial crisis in 2008. The intervention aimed to safeguard financial and economic stability.
The sale, also known as a Directed Buyback, is part of the Government’s plan announced in the Spring Budget to fully exit its shareholding in NatWest by 2025-2026, subject to favourable market conditions and ensuring value for money for taxpayers. So far, the Government has sold well over half of its shareholding in the bank.
Andrew Griffith, the Economic Secretary to the Treasury, said: “Today’s sale is another major milestone in returning NatWest to full private ownership as promised.”
The successful offloading of these shares serves as a testament to the bank’s stability and the government’s unwavering commitment to restore NatWest to private hands, ultimately reducing state intervention in the banking sector.
The progress reaffirms the UK Government’s strategy of divesting assets acquired during the financial crisis and returns NatWest a step closer to operating fully as a privately-owned entity.
