Overview

• The UK Government’s stake in NatWest has dropped below 3%, with full divestment expected by mid-2025, marking a major milestone in the bank’s return to private ownership.
• NatWest chairman Rick Haythornthwaite emphasized that the bank has 'fixed the issues of the past' and expressed gratitude to taxpayers for their role in stabilizing the bank during the 2008 financial crisis.
• Shareholders approved raising executive director bonuses to a maximum of 1.5 times their salary, with assurances from leadership to avoid pre-2008 risk mismanagement practices.
• The board is reviewing the bank's climate targets but has not committed to specific fossil fuel policy changes, citing ongoing evaluations.
• CEO Paul Thwaite reported stable customer behavior despite global economic uncertainties, including concerns over US trade policies.