The long journey of the government to get out of its investment in the era of the crisis in Natwest is almost complete, after the treasure revealed in Thorsday that his participation in the bank has fallen below 1%, a symbolic threshold that signed large.
The last presentation of the Stock Exchange revealed that the Treasury now has only 0.9% of lender FTSE 100, below 1.98% at the end of April, after constant sales in recent months through an administered negotiation plan. The strategy, instead since 2021, gradually releases actions in the market, and is expected to relax the government in a matter of weeks.
Natwest, formally known as the Royal Bank of Scotland Group, closely the Avoid collapse, turning the financial crisis 2008-09, when it was rescued with a rescue of £ 45.5 billion, leaving taxpayers with an 84% participation in the institution. The rescue scale made it one of the most prominent symbols of the crisis, and its return to private hands marks a decisive moment in the cleaning operation.
The successive governments have contributed participation since George Osborne launched the first sale of the sale in 2015. However, all shares provisions have crystallized losses for taxpayers, with the constant price of shares. Natwest’s shares closed 498p on Thursday, an increase of 1%, which led them at a moving distance from Breakeven.
Despite the losses, the government’s departure eliminates the final legacy of the brightness of the United Kingdom financial rescue program. The previous bailouts of the Lloyds banking group, Northern Rock, and Bradford & Bingley have already been completed, with Lloyds totally privatized in 2017.
The return to full private property occurs when Natwest’s CEO, Paul Thwaite, sharpens the bank’s growth strategy. In recent months, the group acquired most of Sainsbury’s banking operations and a mortgage portfolio of £ 2.5 billion of the Bank subway. Thwaite also made an ambitious movement, but without success, to acquire the operations of the main street of the United Kingdom in Santander.
A Natwest spokesman welcomed progress: “Returning the bank to full private property is an ambition that we share with the government, and one that we believe is of interest to all our shareholders.”
Treasury remover actions are being discharged in the market, avoiding large sales of disruptive blocks. Once completed, the Government’s departure will mark the end of a 16 -year trip that saw Natwest drastically reduce himself, restructure under four executive directors and constantly rebuild his reputation and balance.
With the United Kingdom government ready to finally close the book about one of the most turbulent chapters in British bank history, Natwest now focuses firmly on his future, and demonstrating that he can prosper in an environment at full scale.
