LONDON – NatWest Group (NYSE: NWG) will explore “strategically congruent” and “financially compelling” M&A opportunities after a flurry of investments this year, its CEO said, as the state-backed lender looks forward to becoming fully privatized as early as the first half of 2025.
Speaking at the FT Global Banking Summit on Tuesday, Paul Thwaite said he had “lots of potential uses” for the bank’s excess capital but would be thoughtful about its deployment, whether supporting growth in existing businesses or pursuing additional “inorganic tuck-ins”, like the deal struck to buy the banking business of retailer Sainsbury’s in June.
Although describing the bank as “on the front foot” when it comes to acquisitions, investors should not expect any changes in NatWest’s international perimeter, Thwaite said.
