UK government sells remaining shares in NatWest Group

The UK government has sold its remaining shares in NatWest Group (NWG) after nearly 17 years of public ownership, its Treasury announced. Over 2008 and 2009, the government provided GBP 45.5B to stabilize RBS, now NatWest. Economic Secretary to the Treasury, Emma Reynolds said: “Bringing NatWest fully back into private ownership marks a significant milestone for the UK banking sector following the financial crisis. Since coming into government, we have halted the NatWest retail share sale, which could have cost taxpayers hundreds of millions. Instead, we put taxpayers first by only selling NatWest shares at market value- securing more money to invest in vital public services.”