Treasury cuts stake in NatWest to less than 11%
The government’s stake in NatWest has fallen below 11 percent for the first time since the bank was bailed out by taxpayers during the financial crisis.
The lender yesterday bought back 27.8 million shares from the government, worth around £109 million, reducing public ownership from 11.34 percent to 10.99 percent.
It comes after Labor abandoned a Tory plan to divest its remaining stake in NatWest through a public share sale.
Earlier this month the bank bought back 263 million shares at 380.8p per share, for a total of £1 billion.
Back on track: In 2008, the government was forced to inject £45.5 billion into the stricken lender at the height of the financial crisis
In 2008, the government was forced to inject £45.5 billion into the stricken lender at the height of the financial crisis. Ultimately it had an 84 percent stake.
In 2018, the bank still owned 62 percent of the lender, but has steadily reduced its stake in the bank.
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