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NatWest chief executive Paul Thwaite has said the bank is likely to return to full private ownership next year.
“It is reasonable to expect that absent some big dislocation or economic event we’ll be back in private ownership next year, maybe as early as first half of the year,” said Thwaite, speaking at the FT global banking summit in London on Tuesday.
The UK government has cut its stake in the bank to less than 11 per cent, down from 38 per cent a year ago. The state has owned a stake in NatWest since its £46bn bailout in the financial crisis, when it was known as RBS.
“I think it will be a symbolic moment for the sector,” he said. “It means we can talk about the future of the bank, the potential of the bank rather than having to talk about its past.”
This is a developing story
https://www.ft.com/content/626cbdac-a597-4aff-8434-eaf1ec289272
