Saturday, November 23, 2024

NatWest buys back £1bn of shares from Treasury

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NatWest has bought back £1 billion of its own shares from the Treasury, reducing the government’s stake in the bank to just over 11 per cent.

The FTSE 100 bank said it bought 263 million shares from the government at 380.8p each.

The move reduces the government’s stake in the lender to about 11.4 per cent from 14.81 per cent at the end of October.

Paul Thwaite, chief executive of NatWest, said: “We are pleased to have today completed our second buyback of government shares of 2024, further reducing HM Treasury’s shareholding. This transaction represents another important milestone on the path to full privatisation. We believe it is a positive use of capital for the bank and for our shareholders.”

NatWest, previously known as Royal

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