It also named Paul Thwaite as its permanent boss. He replaces Dame Alison Rose who resigned last year after admitting discussing the closure of Nigel Farage’s bank account.
The board said he was the “right person” to shape the group’s future.
The board said he was the “right person” to shape the group’s future.
The government still owns 35% of the bank since it bailed it out to the tune of £46bn during the financial crisis.
But UK Government Investments (UKGI), the company responsible for government investments, has been exploring a share sale since the chancellor announced plans in 2023.
Since NatWest, previously known as Royal Bank of Scotland, was bailed out in 2008, the government has been gradually reducing its shareholding in the bank. Shares have so far been sold to institutional investors and back to NatWest itself.
On Friday, the group said that its pre-tax profits for 2023 were up 20% on the year before and it announced a share buyback of £300m.
While higher interest rates have lifted revenues, it also warned that a tough economic picture could impact its future earnings.
The board said he was the “right person” to shape the group’s future.
It also named Paul Thwaite as its permanent boss. He replaces Dame Alison Rose who resigned last year after admitting discussing the closure of Nigel Farage’s bank account.
The government still owns 35% of the bank since it bailed it out to the tune of £46bn during the financial crisis.
The board said he was the “right person” to shape the group’s future.
The board said he was the “right person” to shape the group’s future.
The government still owns 35% of the bank since it bailed it out to the tune of £46bn during the financial crisis.
But UK Government Investments (UKGI), the company responsible for government investments, has been exploring a share sale since the chancellor announced plans in 2023.
Since NatWest, previously known as Royal Bank of Scotland, was bailed out in 2008, the government has been gradually reducing its shareholding in the bank. Shares have so far been sold to institutional investors and back to NatWest itself.
On Friday, the group said that its pre-tax profits for 2023 were up 20% on the year before and it announced a share buyback of £300m.
While higher interest rates have lifted revenues, it also warned that a tough economic picture could impact its future earnings.
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