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Kalkine Media ASX Share Market News & Research

NatWest looking for its first major acquisition since 2008

November 13, 2020 12:43 PM GMT | By Team Kalkine Media
Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

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NatWest Group Plc is reportedly looking for a potential acquisition of Sainsbury’s Bank and could mark its first major takeover after its government bailout in 2008.

  • It’s worth mentioning that the group earlier known as Royal Bank of Scotland is still majorly owned by the taxpayers of the nation.
  • Simon Roberts, the new chief executive of Sainsbury’s had earlier reported that its banking division was attracting attention from prospective buyers.
  • NatWest in a separate development has proposed to simplify the way it conducts business in Northern Ireland by transferring a major part of the banking business of Ulster Bank to National Westminster Bank Plc.
  • On 13 November 2020, the stocks of the company declined by 0.83% from its previous closing, hovering at around GBX 142.60 at 08:14 AM GMT+1.

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