IN BRIEF: NatWest buys back GBP1 billion in shares from UK government
11th Nov 2024 09:45
NatWest Group PLC - Edinburgh, Scotland-based bank - NatWest buys back GBP1 billion worth of its shares from HM Treasury, as the UK government continues to sell down its stake in the lender. NatWest buys 262.6 million shares, a 3.2% stake, at 380.8 pence each, the stock's closing price on Friday in London. The government now has a 12% stake in NatWest, having owned 84% following a taxpayer bailout of what was then Royal Bank of Scotland Group during the financial crisis of 2008 and 2009. As recently as 2018, HM Treasury held a 62% stake in NatWest, but it has been selling this down progressively since. NatWest said it will cancel all the repurchased shares. It continues to target a CET1 ratio of 13% to 14%. Read More