The UK Government has officially ended its ownership of NatWest Group, formerly known as Royal Bank of Scotland (RBS), marking a historic return to full private ownership after more than 16 years.
The Edinburgh-based bank confirmed the news in a statement issued after the London stock market closed, announcing the sale of the Treasury’s final shares in the company.
This development closes a significant chapter in British financial history, stemming from the £45.5 billion taxpayer-funded bailout that rescued RBS during the global financial crisis of 2008–2009.
At the peak of public ownership, the Treasury held as much as 84.4% of the bank’s shares.
Over the past decade and a half, the Government gradually reduced its stake through accelerated book builds, directed buybacks, and a trading plan led by UK Government Investments.
The pace of sell-offs has increased in recent years, as NatWest has consistently posted robust profits and returned to financial stability.
However, analysts estimate that the Government has incurred a loss of approximately £10 billion on the rescue package, due to the gap between the price paid during the bailout and the average share price at which the stock was sold.
NatWest Leadership Reflects on Milestone Moment
Paul Thwaite, NatWest Group Chief Executive, described the final sale as a “significant moment” for the bank and the nation. He said:
“As we turn the page on the financial crisis, we look forward with confidence, while remembering the lessons of the past.”
“This milestone is a testament to the unwavering support of our shareholders—especially the UK taxpayer—and the dedication of our customers and staff. We now have a clear strategy, strong momentum, and an ambition to help drive growth across the UK.”
Chairman Rick Haythornthwaite also expressed gratitude to the Government and taxpayers for their crucial role in stabilising the bank and wider economy during the crisis:
“The 2008 intervention protected millions of savers, homeowners, and businesses, and helped preserve the integrity of the UK banking system.”
“The landscape of financial services has since transformed, driven by technological innovation, cultural shifts, and tougher regulation. We are now positioned not just to grow but to play a key role in driving investment and economic recovery across the UK.”
Full Privatisation Signals New Era for UK Banking Sector
NatWest’s return to private hands reflects broader changes across the UK banking sector since the financial crash, including stricter regulation, a focus on customer-centric models, and rapid digital transformation.
With the Government now fully divested, NatWest enters a new era—free from state ownership and poised to support national economic ambitions as a fully independent, commercial bank.
