Farage and NatWest settle dispute over bank closure

NatWest and Nigel Farage have settled the dispute over the closure of one of his bank s.

The agreed settlement comes almost two years after the Reform UK leader had his with Coutts, the prestigious private bank for the wealthy which is owned by NatWest Group, closed.

The closure led to a public row between Farage and the bank, which later itted "serious failings" in its treatment of the politician. The fallout also led to the resignation of NatWest's chief executive, Dame Alison Rose.

The and details of the settlement remain confidential so no further information has been released.

"NatWest Group and Nigel Farage MP are pleased to confirm that they have resolved and settled their dispute and the bank has apologised to Mr Farage," a t statement on behalf of the bank and Farage said on Wednesday.

The dispute began in 2023, when Farage, a prominent Brexiteer, said Coutts planned to shut down his and that he had not been given a reason.

The BBC reported that his was being closed because he no longer met the wealth threshold for Coutts, citing a source familiar with the matter.

However, the former UKIP leader later obtained a report from the bank which indicated his political views were also considered.

NatWest's chief executive Dame Alison resigned in July 2023 after itting she had made a mistake in speaking about Mr Farage's relationship with the bank.

A public debate also followed over people being having their bank s shut due to their views. Farage said he was later refused personal and business s at seven more banks in the UK.

An independent report found NatWest failed to communicate its decision properly when it decided to shut Farage's Coutts .

But the closure was lawful, and based mainly on commercial reasons, the report said.