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NatWest's privatisation target delayed to 2026

The UK government said it will need an extra year to fully return state-backed lender NatWest to private hands
The UK government said it will need an extra year to fully return state-backed lender NatWest to private hands

The British government has said it will need an extra year to fully return state-backed lender NatWest to private hands, targeting 2026 to sell its majority ownership of the bank. 

NatWest - formerly Royal Bank of Scotland - remains 62% taxpayer-owned as a legacy of its state bailout in the 2007-09 financial crisis. 

The UK government has managed just two sales of state-owned stock to date, with the last one in 2018.

NatWest owns Ulster Bank here, but last month it announced a phased withdrawal from the Republic of Ireland over the coming years that will be managed in an "orderly and considered manner".