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The Government’s stake in NatWest has fallen below 11 per cent for the first time since the bank was bailed out by taxpayers during the financial crisis.
Yesterday the lender bought back 27.8 million Government shares, worth around £109 million, reducing public ownership from 11.34 per cent to 10.99 per cent.
It comes after Labor abandoned the Conservative plan to offload its remaining stake in NatWest in a public share sale.
Earlier this month, the bank bought back 263 million shares at 380.8 pence per share, for a total of £1 billion.
Back on track: In 2008, the Government was forced to pump £45.5bn into the stricken lender during the height of the financial crisis.
In 2008, the Government was forced to inject £45.5bn into the affected lender during the height of the financial crisis. It ended up having an 84 percent share.
In 2018, it still owned 62 percent of the lender, but has been steadily unwinding its stake in the bank.
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