LONDON: NatWest Group plc has entered into an agreement with Metro Bank plc to acquire a £2.5 billion portfolio of prime UK residential mortgages, with a weighted average current loan to value of c.62%. On completion of the transaction NatWest Group expects to welcome around 10,000 customer accounts which will continue to be serviced by Metro Bank, in…
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NatWest Group to acquire businesses of Sainsbury’s Bank
LONDON: J Sainsbury PLC has entered into an agreement for the sale of Sainsbury’s Bank plc’s personal loan, credit card and retail deposit portfolios to NatWest Group, one of the UK’s leading banks. “We expect the Transaction to complete in the first half of calendar year 2025,” a press release noted. This Transaction does not…
Permanent TSB to acquire Ulster Bank’s Irish business for €6.4bn
LONDON, UK: Permanent TSB has entered into binding agreements with NatWest Group and Ulster Bank Ireland for the acquisition of certain elements of the Ulster Bank Retail, SME and Asset Finance business in the Republic of Ireland. As at 30 June 2021, the transaction includes approximately €7.6 billion of assets and consists of the following…
UKGI disposes shares in NatWest Group for £ 1.1bn in total
LONDON: UK Government Investments Limited (UKGI) has announced the successful completion of the disposal of part of HM Treasury’s shareholding in NatWest Group plc. The disposal was effected by way of a placing of 580 million ordinary shares with a nominal value of £1.00 each through an accelerated book building process to institutional investors. The…
NatWest acquires mortgage portfolio from Metro Bank
LONDON: NatWest Group plc has entered into an agreement with Metro Bank plc to acquire a £3.0 billion portfolio of prime UK mortgages, a news release said. The portfolio consists of owner occupied residential mortgages with a weighted average current loan to value of c.60%. As part of the transaction, NatWest will welcome over 13,000…