Christopher Johnson: The UK government has once more reduced its stake in Edinburgh bank NatWest NWG to just below 16%, down from around 17% previously.
It’s held a position in the banking giant since it bailed out what was then Royal Bank of Scotland at the height of the 2008 financial crash. The government has been slowly selling down its stake in the bank ever since, amid concern over how much value, if any, the taxpayer will get from the gradual exit.
In 2024, however, NatWest Group has had a successful year, and is one of the stocks that has contributed to the FTSE 100’s resilience. YTD, shares are up 57.67%. NatWest has also recently gone through a change of guard. Newly-appointed chief executive Paul Thwaite took over from Dame Alison Rose who stepped down last year after the “debanking” scandal involving right-wing campaigner-turned Reform Party MP Nigel Farage.
Questions remain about how much will change under Thwaite’s leadership, however. He joined the bank in 1997 and has pledged to continue Rose’s business strategy – for instance adapting the bank for the digital age.
NatWest stock is currently trading at £3.47, slightly underperforming Morningstar’s Fair Value Estimate of £3.60. NatWest will pay an interim dividend of 6p to shareholders on September the 13th.
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