Nigel Farage has agreed to settle his debanking dispute with NatWest nearly two years after a row over the closure of his accounts, which culminated in the resignation of the lending giant’s chief executive.
The bank has apologised to the Reform UK leader and the terms of the agreement are confidential, according to a joint statement.
In July 2023, Mr Farage obtained internal evidence from the bank suggesting his account with Coutts, which is owned by NatWest Group, had been closed partly due to his political views.
In an angry tirade against the bank in October of that year, Mr Farage revealed a series of internal documents he obtained – which referred to him a “crackpot”, “sketchy” and “a fool”.
Mr Farage was also described in one of the emails as an “awful human being”, while another said they would have paid a significant sum to have been the one to tell the GB News presenter his account was shut.
Dame Alison Rose was then forced to stand down as chief executive after she admitted to being the source of an inaccurate story about the politician’s finances – which said the closure was instead for commercial reasons.
Mr Farage said at the time Dame Alison had “dragged its name through the mud” and introduced a “woke agenda” at the bank, as well as breaking data protection laws by discussing his account with the BBC.
In a statement on Wednesday, Mr Farage and NatWest Group said: “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.
“The terms of the settlement are confidential.”
Last month Mr Farage told Sky News that Grosvenor Law, acting for him in the civil proceedings against the bank, were instructing a top barrister to explore a private criminal prosecution. "This is unfinished business," he said.
In an additional statement, Dan Morrison, a partner at Grosvenor Law, said: "Mr Farage is concerned about possible criminal issues arising out of the bank's conduct. We do not wish to provide further details.
"We have therefore decided to instruct leading criminal counsel."
Following the publication of an inquiry’s report into the saga, NatWest’s chairman Sir Howard Davies previously said there were “serious failings in the treatment of Mr Farage.”
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