The government is preparing to sell the latest public actions of the Natwest Group on Friday, tracing a line under one of the largest reunions of the Banque du Monde after almost 17 years.
Sky News understands that the Treasury is preparing to unload its remaining participation – which is around 0.1% – in the coming hours, with a public declaration probably later Friday or Monday morning.
Sources have warned that the schedules were always subject to a change.
The final provision of a participation which, at one point, represented more than 80% of Natwest’s share capital has been planned for weeks.
Last week, Sky News reported that British taxpayers were heading for a loss of just over 10 billion pounds Sterling on Natwest’s 2008 rescue, then known as the Royal Scotland Banking (RBS), having pumped 45.5 billion pounds sterling in the lender to prevent it – and the wider British financial system.
Confirmation of the sale of the final interest of the Treasury for Natwest will take place almost 17 years after the Chancellor of the time, Lord Darling, led what the RBS boss at the time, Fred Goodwin, labeled “a car”.
The total product of a government negotiation plan launched in 2021 to hike Natwest on the market has hitherto reached around 13 billion pounds Sterling, the final statement likely to be around 13.2 billion pounds sterling.
In addition, sales of institutional actions and direct redemptions by Natwest of the actions held by the government brought in additional 11.5 billion pounds.
Dividends to the Treasury During Property Total 4.9 billion pounds sterling, while costs and other payments generated an additional 5.6 billion pounds.
Overall, this means that the total Natwest product since 2008 should reach 35.3 billion pounds sterling.
Under Rick Hayythwaite and Paul Thwaite, respectively the president and chief executive officer of the bank respectively, Natwest is now focusing on the growth of his business.
He recently filed an offer of 11 billion pounds sterling to buy Santander UK, according to the Financial Times, although no interview is underway.
Mr. Thwaite replaced Dame Alison Rose, who left in the middle of the crisis launched by the debannage scandal involving Nigel Farage, the head of the British reform.
Sky News recently revealed that the Bank and Mr. Farage had reached an undisclosed regulation.
During the first five years of the Natwest period in the majority property of the State, the bank was led by Sir Stephen Hester, now president of Easyjet.
Sir Stephen resigned among the tensions with the Chancellor then, George Osborne, on the way RBS – as he was – should be managed.
Lloyds Banking Group was also on partial property of the State for years, although taxpayers have collected a net gain of around 900 million pounds sterling of this period.
The other nationalized lenders during the crisis were Bradford & Bingley, most of whom were sold to Santander UK, and Northern Rock, part of which was sold to Virgin Money – which in turn was acquired by Nationwide.
The Treasury and Natwest refused to comment.