The trading plan involves drip-feeding further stock into the market to reduce the government’s stake in NatWest. British officials have said the government would consider selling bigger chunks to private investors or directly to NatWest when they “achieve value for money for taxpayers”.
The UK government has a remaining 41.5% stake in the bank. The state has recently sold small parts of its ownership in the bank following the global banking crisis that has since sent jitters across Western markets.
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In 2022, NatWest returned to majority private ownership after it was bailed out at the height of the 2007-09 global financial crisis.
Last year, the company reported significant growth, with the value of loans to customers at amortised cost reaching £366.3bn and its operating expenses going down to £7,68bn in 2022 from £7.75bn in 2021.
However, despite recent business growth, its crypto sector reported significant losses last year. According to NatWest, its customers reported £329m in losses in 2022, prompting the bank to limit the value of daily crypto payments conducted on its platform to £1,000 in order to fight fraud.
According to NatWest, men over 35 are most at risk from taking part in risky investments. With the cost-of-living crisis eating people’s savings, criminals take advantage by promising high returns in exchange for victims’ money.
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By GlobalDataOver the past month, NatWest’s stock has fallen by nearly 10%.
