NatWest Group slowly exiting from a 13-year taxpayers’ nightmare

0 6
The government's ownership of NatWest Group has lasted longer than some Quentin Tarantino films, only with more blood-letting and swearing. () PLC (), or Royal Bank of Scotland (RBS) as it was then, was nationalised in 2008, a period in which the world’s banking system was in danger of collapsing. The original cost to the British taxpayer was £45bn, curiously quite close to the amount (£49bn) paid for Dutch bank ABN-Amro, of which more later. Some 13 years and several governments later, the British taxpayer still owns a majority stake in the bank – 54.7%. It could be on its way to becoming a minority shareholder soon, however, with UK Government Investments Limited (UKGI) instructing an American investment bank, (), to offload some of the government's shares from 12 August if it can get a decent price for them. It will be a nice little earner for () and makes you wonder how banks can fail to make money. It turns out there are numerous ways for banks to lose mone
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade