“NatWest: British Government Sells Shares and Reduces Controlling Stake”

The government has sold these shares to “NatWest”.

Thus, the controlling stake in the bank owned by the British government was reduced from approximately 41% to 38.69%.

As reported, last March, the share of “NatWest” owned by the British government fell below the 50% mark for the first time since the global financial crisis.

NatWest was previously known as Royal Bank of Scotland.

“Royal Bank of Scotland” decided to change its name in 2020, thus trying to distance itself from the near-collapse experienced in the 2008 financial crisis.

“NatWest” is one of the worst-hit British banks during the global credit crisis, and in exchange for state financial assistance, the British government acquired 81% of the bank’s shares.

The British government injected 45.5 billion pounds into NatWest, becoming the world’s largest bank rescue.

In June 2018, the British government resumed the privatization process of “NatWest”.