The British government no longer owns most of NatWest, the bank it helped during the global financial crisis. The government sold more of its shares, bringing its ownership in NatWest to less than 30%. Bim Afolami, an official from the finance ministry, said this shows they’re moving forward in returning NatWest to private ownership.
The government used to own up to 84% of NatWest, but now it’s less than 30% because it sold more shares to big investors as part of its plan. Starting in June, it wants to privatize NatWest entirely by 2026 and might sell some of its shares to regular people.
Natwest Logo (Credits: Irish Examiner)
With the government’s ownership below 30%, it is no longer considered the main boss under UK rules. This means it doesn’t have as many rules to follow when choosing directors.
NatWest is happy with the government selling its shares and bringing the bank back into private ownership. Recently, NatWest asked its shareholders if they agreed to let the bank buy back even more of its shares from the government – up to 15%, which is more than before. This is all part of their plan to speed up making NatWest a private bank again.
