The government now has a 19.97% stake in Natwest, the first time since 2008 that its holding in the bank has been less than 20%.
The state has been selling off its shares in Natwest in a bid to get the bank back to full private ownership.
In the Spring Statement this year, former Chancellor Jeremy Hunt announced the government would hold a retail sale to relieve its shares in the bank and return it to full private ownership by 2025/2026. Hunt also said the sale would promote retail investment and the UK’s capital markets.
The government has not held a majority stake in Natwest since March and the recent disposal brought its share down from 20.92%.
The state injected £45.5bn into Natwest’s parent company the Royal Bank of Scotland (RBS) at the height of the global financial crisis between October 2008 and December 2009.
It became the majority stakeholder of RBS in November 2008 with a 58% stake. In December 2009, this was increased to 84.9% resulting in total economic ownership.
In its Q1 2024 results, Paul Thwaite, chief executive of Natwest, said the bank was “pleased with the recent momentum in the reduction of HM Treasury’s stake in the bank”.
He added: “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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
