NatWest is no longer under majority public ownership following a £1.2 billion sale of part of the government’s shareholding back to NatWest.

The NatWest Group, formerly Royal Bank of Scotland plc, has been under majority public ownership since the UK government stepped in to support banks during the 2008 financial crisis.

The UK government has been steadily reducing its holding in NatWest Group plc, with the most recent marking the fifth sale of its NatWest shareholding.

The sale brings its level of ownership down from 50.6 per cent to 48.1 per cent.

The economic secretary to the Treasury John Glen authorised the sale of approximately 550 million shares in NatWest at 220.5p per share raising a total of £1.2 billion.

The shares were bought back by NatWest and the process was managed by UK Government Investments.

The government said the sale represented “a landmark” in its plan to return to private ownership the institutions brought into public ownership as a result of the 2007-2008 financial crisis.

Commenting on the sale, economic secretary to the Treasury, John Glen said: “This sale means that the government is no longer the majority owner of NatWest Group and is therefore an important landmark in our plan to return the bank to the private sector. We will continue to prioritise delivering value for money for the taxpayer as we take forward this plan.”

Share Story: