On 28 March 2024, UK Treasury confirmed successful trading plan means government no longer controlling shareholder in NatWest, its shareholding now below 30%.

• This is down from the peak government shareholding< of around 84%, since trading plan started in Aug. 2021 approximately £5.8 billion in proceeds has been raised.
• Reduction of shareholding to around 29.8% means that though government still the largest shareholder, it is no longer a controlling shareholder under UK FCA definition.
• Represents clear progress in commitment to return NatWest to full private ownership, government aims achieve this by 2025-26, subject to supportive market conditions.
• UK Treasury highlighted retail offering of NatWest shares as flagged in spring budget.