UK Cuts Stake in NatWest to Below 20%, Hastening Exit From Bank

The UK government continues to hasten its exit from NatWest Group Plc and will no longer be considered a related party to the lender it rescued during the financial crisis after recently disposing of more shares.

The government’s stake has dropped below 20% for the first time since 2008, according to a statement Monday. Under the country’s newly revamped listing rules, that means the government will cease to be considered a related party to the bank starting in one year.

“Returning NatWest Group to full private ownership remains a key ambition,” Chief Executive Officer Paul Thwaitesaid in a separate ...