U.K. Sells NatWest Stake

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CNBC's UK Exchange newsletter: A lament for the losses on Royal Bank of Scotland

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69% Informative

Last week , the U.K. government finally sold its remaining shareholding in NatWest (as Royal Bank of Scotland was rechristened in July 2020 ) It marks 17 years since RBS announced it was tapping shareholders for 12 billion ( $16 billion ) Months later , the bank was bailed out by the British government.

Gordon Brown's government took control of RBS/NatWest in 2008 and 2009 to acquire a stake that peaked at nearly 85% .

Over the years , the government has recouped some 35 billion via fees, dividends and share sales, crystallizing a loss on disposal of nearly 10.5 billion .

At the time of the rescue, RBS 's balance sheet was bigger than the entire U.K. economy.

Analysts and economists argue that the U.K. 's new defense spending plans could ultimately prove to be too little, too late.

The greenback has become one of the most punished assets on the back of U.S. tariff tensions.

Sterling has seen a solid few sessions despite a dip Tuesday , with the pound back above the $ 1.35 level.

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formal

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English

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