By Elena Vardon
The U.K government trimmed its stake in NatWest Group below 1% as it edges closer to returning the bank to private ownership.
The Treasury disposed of 87.3 million ordinary shares in the London-based retail and commercial lender, reducing its shareholding to 0.90% from 1.98% previously, regulatory filings showed Thursday.
The government's stake in the bank resulted from its 45.5 billion pound ($60.34 billion) bailout of Royal Bank of Scotland in 2008. RBS bought NatWest in 2000 and rebranded the enlarged company as NatWest Group in 2020. At its peak, taxpayers owned 84% of the bank.
The state has been steadily unwinding its position through a combination of directed buybacks and share placements. In March 2024, its ownership in the bank fell below 30%, meaning it was no longer NatWest's controlling shareholder and slipped below 10% in December.
NatWest's stock has risen 52% over the past 12 months, giving it a market capitalization of almost 40 billion pounds.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
May 15, 2025 06:42 ET (10:42 GMT)
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