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(Sharecast News) - The UK government further reduced its ownership of NatWest Group on Tuesday, cutting its stake to 8.9% from 9.99%, according to a regulatory filing from the bank.
It marked the latest step in the government's ongoing divestment from the Edinburgh-based lender, which it bailed out during the financial crisis of 2008 and 2009.
At the height of the bailout, the government owned 84% of what was then the Royal Bank of Scotland Group.
Since then, it had gradually reduced its stake, holding 62% as recently as 2018.
NatWest was one of the most significant beneficiaries of taxpayer support during the financial crisis.
At 1359 GMT, shares in NatWest Group were up 0.79% at 384.7p.
Reporting by Josh White for Sharecast.com.
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