NatWest will close its business in Poland by the end of 2025, the British bank said on Wednesday, cutting about 1,600 staff as it consolidates its financial crime operations into two remaining hubs in Britain and India.
The bank’s entire 1,600-strong workforce in Poland will lose their jobs, a spokesperson for the bank said, with 45% of those roles gone for good and the remaining 55% being transferred to the other two countries where equivalent jobs will be created.
The decision has followed completion of a specific financial crime project in Poland, the spokesperson added, meaning there is no longer work for those employees.
The completion of that project triggered a wider review of the bank’s presence in the country, the spokesperson said, leading to the decision to close the business, which covered financial crime, technology, finance and risk.
NatWest Chief Executive Paul Thwaite said this year that the lender is aiming to become a simpler and more efficient bank.
The bank is preparing to return to full private ownership for the first time since the 2008 financial crisis. The process has been delayed, however, by Britain’s July 4 elections, which pushed back a mooted public share sale by the government.
NatWest reported in February annual profit up by a fifth as the British banking sector benefited from higher lending returns on the back of rising interest rates.
