The Labor government at the time spent £45 billion to acquire 84.4% of the capital.
The British government announced on Monday that it had handed over control of NatWest Bank, nationalized after the 2008 financial crisis and which still holds more than half of its capital, reducing its stake from 50.6% to 48.1%. ,for the first time since the economic crisis“NatWest”After the sale of a portion of the £1.2bn capital, the state no longer has majority ownership“, announced the Finance Ministry in a press release, specifying that the shares were directly purchased by the bank.
Formerly the spread and symbol of excess of finance and still called RBS (Royal Bank of Scotland), NatWest was saved from bankruptcy by the state during the 2008 financial crisis. Since then it has become a great slimming treatment and the focus is on it again. Retail and Corporate Banking in the UK.
Gradual dissolution since 2010
The Labor government at the time spent £45 billion to acquire 84.4% of the capital. Successive Conservative governments have gradually withdrawn from the bank’s capital since 2010. The sale announced on Monday is the fifth sale of a stake in NatWest by the British state. ,This is a significant step in the government’s plan to return (banking) institutions to private ownership.Nationalized after the financial crisis, the finance ministry argued in its press release.
The British state fully withdrew from Lloyd’s Bank in 2017, which it also saved from bankruptcy in 2009 by raising 40% of its capital.
After losses caused by the pandemic, NatWest turned profit in 2021, driven by a rebound in the economy that allowed it to write back provisions for unpaid loans, posting a net profit group share of 2.95 billion euros. 753 million pounds a year ago.
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