The taxpayer stake in NatWest has fallen to under 10 per cent as it heads closer to a full return to private sector ownership.
It comes after boss Paul Thwaite said recently that the lender is on course to shed its Treasury shareholding as soon as the first half of next year.
The Government bailed out the bank to the tune of £45billion to save it from collapse during the financial crisis of 2008 and at one stage owned as much as 84 per cent.
It has been gradually reducing the stake but last year still held 38 per cent.
Moving on: The Government bailed out NatWest to the tune of £45billion to save it from collapse during the financial crisis of 2008
That has been reduced sharply over the past 12 months, both by selling shares to investors in the market and through buybacks by the bank itself.
The latest reduction to 9.99 per cent was the result of sales into the market. However, the Government is still NatWest’s largest shareholder. In October’s Budget, Chancellor Rachel Reeves committed to selling the rest of its stake by 2026.
A NatWest spokesman said: ‘Returning the bank to full private ownership is in the interest of all our stakeholders.’
Shares fell 0.9 per cent to 405.5p.
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