Dame Alison Rose, the boss of NatWest, has admitted to making a "serious error" when discussing Nigel Farage's relationship with its private banking arm, Coutts. She apologized for her

response to BBC's questions about the closure of Mr. Farage's account, stating that she was "wrong" in her approach. The former UKIP leader had raised concerns about how his financial information was made public during the dispute over the closure of his bank account.

The bank faced criticism for closing Mr. Farage's account without providing a reason. Later, Mr. Farage obtained a Coutts report, which flagged concerns about his political views, describing him as "xenophobic and racist." The document also questioned the reputational risk of having him as a client, stating that it was inconsistent with Coutts' commitment to inclusivity.

Dame Alison clarified that she was not involved in the decision to close Mr. Farage's account but had been told by Coutts that it was due to commercial reasons. She admitted to mistakenly providing the impression that the decision was solely commercial when discussing eligibility criteria for banking with Coutts and NatWest.

NatWest chairman, Howard Davies, acknowledged that Dame Alison should not have spoken in the manner she did and called it a "regrettable error of judgment." He stated that the situation would be taken into account during decisions on remuneration but highlighted that she is an "outstanding leader" and it is in the best interest of the bank's shareholders and customers for her to continue in her role. Photo Gage Skidmore from Peoria, AZ, United States of America, Wikimedia commons.