NatWest (NWG.L) plans to seek shareholder approval for a buyback of up to 15% of its stock from the UK government as part of its privatisation efforts. This request is an increase from the previous limit of 5% per year. The bank, which is about one-third owned by taxpayers following a bailout during the 2007-9 financial crisis, aims to accelerate the government’s exit, planned by 2026. The proposed buyback, based on current market capitalisation, would be worth around £3 billion. The UK government has been reducing its stake from a peak of 84% through sales to institutional investors and directly to NatWest. Finance Minister Jeremy Hunt announced plans to sell stock to retail investors to speed up the process. NatWest’s annual meeting will also include votes on the formal appointments of chairman Rick Haythornthwaite and CEO Paul Thwaite. The bank’s shares have increased by 9% year-to-date, following a report of its highest annual profit since the bailout. However, sales of government-owned stock have been at a loss compared to the bailout price of 502 pence.