Overview

• Nigel Farage and NatWest Group have resolved their dispute over the closure of his accounts through a confidential settlement.
• NatWest issued an apology to Farage and agreed to pay an unspecified sum in damages, leading him to withdraw potential legal action.
• The controversy began in 2023 when Coutts, a NatWest subsidiary, closed Farage's accounts, with internal documents suggesting political bias played a role.
• The incident prompted the resignation of NatWest CEO Dame Alison Rose and led to regulatory changes in how banks handle politically exposed persons (PEPs).
• NatWest has since reported strong financial performance and is nearing full privatization, with the UK government reducing its stake to under 4%.