NatWest buys back 4.9% UK govt stake for £1.2bn

NatWest Group said it was buying back a 4.01% stake in the bank from the UK government for £1.2bn, taking the British taxpayers’ holding to below 50% for the first time since the financial crash of 2008.
The bank said it would cancel the shares once repurchased. NatWest was bailed out by the taxpayer to the tune of £45bn as the global financial system faced meltdown after predatory lending and excessive risk-taking by the sector.