NatWest is now 38.6% state-owned, down from 41.4%, after the UK government sold £1.26bn of shares in the bank.
This was the sixth block sale of NatWest shares since the government bailed out the bank (formerly the Royal Bank of Scotland) during the global financial crisis in 2008.
At its peak NatWest was 84% owned by taxpayers. The government ended its majority ownership in March last year by reducing its holding below 50%.
The intention is to fully exit the shareholding by 2025-2026, subject to market conditions and achieving value for money on the sales.
“This transaction reduces government ownership below 40% and demonstrates positive progress on the bank’s strategic priorities and the path to privatisation,” said NatWest chief executive Alison Rose.
NatWest has a total market capitalisation of about £25bn.
