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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Natwest Group Plc | LSE:NWG | London | Ordinary Share | GB00BM8PJY71 | ORD 107.69P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 285.90 | 285.20 | 285.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Commercial Banks, Nec | 14.77B | 4.64B | 0.5271 | 5.41 | 25.09B |
From Apr 2021 to Apr 2024
By Sabela Ojea
NatWest Group PLC said Friday that with its subsidiary Ulster Bank Ltd, it has entered into a legally binding agreement with Permanent TSB Group Holdings PLC as part of its phased withdrawal from Ireland.
The U.K. bank said the agreement is for the sale of performing non-tracker mortgages, performing micro-SME [small and medium-sized enterprise] loans, the subsidiary's asset-finance business and a subset of its branch locations.
The sale includes around 7.6 billion euros ($8.61 billion) of gross performing loans as at June 30 and 25 branch locations, Natwest said.
In return, the bank will receive newly issued ordinary shares equivalent to a stake of 16.66% of the enlarged share capital of PTSB, the bank added.
The phased withdrawal from the Republic of Ireland is expected to be capital accretive to NatWest Group, the lender said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 17, 2021 03:04 ET (08:04 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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