The UK government has sold more shares in NatWest, taking its stake to below 20% the bank said on Monday.
NATWEST GROUP
15 July 2024 15:15:26
Source: Sharecast
The state's ownership of the bank has gone from just under 38% in December to 19.97%, it added.
Taxpayers were forced to bail out the bank during the 2008 financial crisis, after malfeasance in the industry in the UK and the sale of sub-prime mortgages in the US, that saw billions poured into financial institutions to prop them up.
British banks received £137bn in the form of loans and new capital. Lloyds Bank was also bailed out as part of the process. None of the share sales have yielded a profit for the taxpayer.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.