UK government further reduces stake in NatWest

(Sharecast News) - The UK government further reduced its ownership of NatWest Group on Tuesday, cutting its stake to 8.9% from 9.99%, according to a regulatory filing from the bank. It marked the latest step in the government's ongoing divestment from the Edinburgh-based lender, which it bailed out during the financial crisis of 2008 and 2009.

At the height of the bailout, the government owned 84% of what was then the Royal Bank of Scotland Group.

Since then, it had gradually reduced its stake, holding 62% as recently as 2018.

NatWest was one of the most significant beneficiaries of taxpayer support during the financial crisis.

At 1359 GMT, shares in NatWest Group were up 0.79% at 384.7p.

Reporting by Josh White for Sharecast.com.