NatWest chief Dame Alison Rose ‘skirting scrutiny’ for snubbing MPs

Natwest boss Dame Alison Rose has been charged with ‘evasive investigation’ for refusing to appear before MPs in parliament next Tuesday.

British bosses of the four largest banks have been summoned to testify before the Treasury Select Committee on issues such as savings rates.

Members of the committee believe that lenders are “bumping along” in raising savings rates – while passing on increases in mortgage and other borrowing costs more quickly.

Lloyds chief executive Charlie Nunn has agreed to attend along with Ian Stuart, head of HSBC’s ring-fenced UK bank.

Barclays sends British boss Matt Hammerstein in place of CEO Venkat, who is being treated for cancer.

Push back: Natwest boss Dame Alison Rose, left, will not attend Parliament despite appeal from MP Harriett Baldwin

But Rose has said she is too busy despite the bank still being 46 percent taxpayer owned.

She blamed calendar constraints ahead of the lender’s full-year results on Feb. 17.

This is despite the fact that Barclays, HSBC and Lloyds will also publish full year results this month, while Barclays will report on February 15.

NatWest will instead send David Lindberg, head of the retail bank, to attend in her place.

It is understood that Harriett Baldwin, chairman of the Treasury Select Committee, called Rose to personally ask her to attend.

She said: “I am very keen for all the top executives of the major banks to appear. I’m particularly keen that it doesn’t become an all-male panel, because we want to send a signal to younger women in banking that they can make it to the top.’

But sources believe Rose will show up because of the backlash, drawing even more attention to her.

One observer said, “Alison is great, but she has been very ill advised on this.” A second said she was “invisible.”

NatWest is expected to reveal huge earnings for 2022, supported by rising interest rates. It was saved with a nearly £50 billion bailout during the financial crisis and the taxpayer is still the largest shareholder.

Committee member Labor MP Dame Angela Eagle said: ‘When banks demand that the state be the lender of last resort, it is an insult if bosses don’t come and testify before the select committee when asked.

“I think she should show some respect for Parliament and if she is asked to testify, she should come.”

Tory MP Dame Andrea Leadsom said she was ‘very surprised’.

She said: ‘Almost every UK bank manager will be attending this crucial hearing on why interest rate hikes don’t seem to be fully passed on to depositors.

With each increase in the base rate, the mortgage interest immediately went up, so why not give pensioners and other savers a fair deal?’

Bosses will be grilled about the state of the mortgage market and the lifting of bankers’ bonus caps.

NatWest said: “As chief executive of our retail bank, which serves 16 million customers, David Lindberg is directly responsible for these critical consumer issues and is an appropriate representative for NatWest Group.”