US EditionNatWest boss thanks British taxpayer for 2008 bailout after government sells remaining shares
- The UK government has finalized the disposal of its remaining shares in NatWest, restoring the bank to full private ownership after 17 years of partial public control.
- The sale follows a taxpayer-funded bailout of £46 billion during the 2008 financial crisis when the government acquired an 83% stake to rescue the then-RBS.
- Post-Crisis reforms included ring-fencing retail banking from investment arms and bonus caps, which NatWest now seeks to adjust as regulatory demands may have become excessive.
- NatWest Chairman Rick Haythornthwaite acknowledged the taxpayer’s role in rescuing the bank and stressed that the company remains mindful of past mistakes while advocating for adjustments to current regulatory measures.
- The sale closes a turbulent economic chapter with a final £10.5 billion government loss and signals potential shifts in banking regulations and focus toward customer-centric ethics.
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Britain offloads last NatWest stake after crisis-era rescue
NatWest has returned to full private ownership after a 45 billion-pound ($60.59 billion) state rescue at the height of the 2008 financial crisis, ending a costly, taxpayer-funded government investment that reshaped the lender and industry.
·United Kingdom
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Associated Press News+2 Reposted by 2other sources
British government is out of the banking business with sales of remaining shares in NatWest
The British government says it sold its remaining shares in NatWest. The Treasury said Friday that the bailout of the bank during the 2008 financial crisis had cost taxpayers $14 billion.
·United States
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Leaning Left5Leaning Right1Center6Last UpdatedBias Distribution50% Center
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C 50%
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