NatWest Aims for Full Private Ownership by 2025

NatWest's CEO, Paul Thwaite, announced at the FT Global Banking Summit that the bank is on track to return to full private ownership by the first half of 2025, with the government's stake reduced from 38% to under 11% through sales and buybacks amounting to £2.2 billion this year. This transition marks a significant milestone, allowing the bank to focus on its future rather than its past, particularly since it was bailed out by taxpayers during the 2008 financial crisis. The UK government has recouped over £20 billion since the rescue, but taxpayers still incurred losses as shares were purchased at an average of 502p. Meanwhile, Citigroup has completed the separation of its Banamex retail bank in Mexico as part of its IPO plans, aiming to streamline operations and enhance performance. The timing of the Banamex IPO will depend on regulatory approvals and market conditions, potentially involving dual listings in both Mexico City and New York. These developments illustrate ongoing efforts within major banks to restructure and return to private markets following government interventions during the financial crisis.