In a circular published ahead of the bank's annual investor meeting in April, NatWest has asked its investors to back a resolution that would enable it to acquire up to 15% of state-owned stock in a 12-month period, up from a previous ceiling of 5% a year.

NatWest - formerly known as Royal Bank of Scotland - remains around a third owned by taxpayers, as the government steadily sells down its holding, including through a planned sale of stock to the public as early as this June.

(Reporting by Iain Withers; Editing by Tommy Reggiori Wilkes)