The government’s stake in NatWest Group has fallen below 27% for the first time since it was bailed out by the taxpayer in 2008.
The Treasury sold 0.98% of its shares in the lender taking its holding down to 26.95% as part of its ongoing trading plan, according to a stock market statement this morning.
Its investment vehicle, UK Government Investments remains the largest investor in the bank — although it lost its controlling stake in the lender in March after selling down its holding below 30%
Also, in the March Spring Budget, Chancellor Jeremy Hunt confirmed that the government plans to return NatWest to private ownership by 2025-26.
This will include a share sale to the public as early as this summer where the government will hope to raise between £3bn and £4bn.
The state recused the bank from going bust during the height of the financial crisis in 2008, taking an 84% stake in the business after pumping £45.5bn into the lender.
