The Treasury has recently sold a further tranche of shares, decreasing its stake from 1.98% to just 0.9%.

This milestone marks a near conclusion to the bailout that commenced during the 2008 financial crisis. At that time, the bank, then known as Royal Bank of Scotland, received almost £46 billion in taxpayer funding to prevent its collapse. The government’s holding subsequently peaked at 84.4% in 2009.

Efforts to offload the taxpayer’s stake have accelerated recently. At the end of 2023, the government still held 40% of NatWest. However, consistent sales to both retail investors and on the public market have rapidly diminished this figure.

NatWest Chief Executive Paul Thwaite has described the impending return to full private ownership as a “symbolic moment” for the banking sector. Following the latest share sale, NatWest shares experienced a 1% rise, or 5.1p, reaching a 15-year high of 498.1p. Despite this recent peak, the share price remains approximately 90% lower than its value in 2007.

In a statement, NatWest welcomed the Treasury’s continued progress in reducing its shareholding. While the exact date for the complete sell-off of the remaining taxpayer stake has not been disclosed, this latest development signals its imminent privatisation.