NatWest Review Shows No Evidence of Discrimination; Will Implement All Recommendations
15 Dezembro 2023 - 7:13AM
Dow Jones News
By Najat Kantouar
NatWest Group said that an independent review into its closures
procedure confirmed that its decision-making was consistent with
relevant standards, and that there was no evidence of
discrimination due to political views or any other protected
characteristic.
The British lender said Friday that phase 2 of the Travers Smith
report identified several areas where Coutts's policies and
procedures governing exit decisions could be improved, and that it
has accepted and will implement all the recommendations contained
in phases 1 and 2 of the review.
In July, former politician Nigel Farage said he was dropped as a
client of Coutts, a private bank owned by NatWest, because of his
political views.
Travers Smith was commissioned by the board in July relating to
account closures at Coutts over the 24-month period prior to July
28, 2023.
"We recognized the need to improve our customer account closure
processes and those improvements are already well under way.
Although Travers Smith confirm that, in general, decisions were
appropriate and that there was no evidence of discrimination, it is
clear there are lessons to be learned," Chief Executive of Coutts
Mohammad Syed said.
Shares at 0925 GMT were up 0.27% at 8797.88.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
December 15, 2023 04:58 ET (09:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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