NatWest Buys Back £1 Billion in Shares

NatWest has repurchased £1 billion worth of shares from the UK government, reducing the government's stake in the bank from approximately 14% to around 11%. This buyback is part of NatWest's ongoing efforts to return to full privatization following its bailout during the 2008 financial crisis. Chief Executive Paul Thwaite stated that the transaction marks an important milestone in the bank's privatization journey and reflects its strong performance. The repurchase, which involved 262.6 million shares at a price of 380.8 pence each, is the second buyback of government shares in 2024, bringing the total to £2.2 billion for the year. Plans for the government to return NatWest to private ownership have been reiterated, with a goal of completing this process by 2025 or 2026. The transaction follows a broader strategy by the government and NatWest to increase shareholder value and confidence in the bank's future.