Nigel Farage hails victory after NatWest drastically cuts payout of top boss over debanking scandal

NatWest has said it will not pay £7.6million in potential payments. She had originally been in line for a £10million pay out.

Farage hailed the decision as a "very good piece of news", adding: "What she did was wrong in absolutely every regard.

WATCH: Farage launches his debanking campaign

"She’s done a bad job all round.

"The thought she was going to walk away with £10million having done this was outrageous.

"I would like to think that what has happened to Alison Rose ends the woke culture in banking, ends them playing politics and just dealing with customers on a commercial basis."

Rose stepped down as NatWest CEO just under four months ago after she said that she had spoken to a BBC journalist about Farage’s relationship with Coutts.

The closure of the GB News presenter's account with Coutts, which is owned by NatWest, was confirmed by the bank earlier this year.

He claimed it was due to his political opinions. But days later an article appeared in the BBC citing sources claiming that the account was closed for commercial reasons.

Weeks later, Dame Alison was forced to admit that she was the source for the BBC article.

Initially she tried to stay on in the job, with the backing of the board. But in the early hours of the next morning the bank said she would leave.

The Government has since announced it intends to introduce legislation to stop banks from shutting down customers' accounts due to their politics.

Rose's pay packet had been expected to be announced when NatWest reported its third quarter results a fortnight ago, but not figures were made public at the time.

The former CEO is entitled to £5.2million in long-term share options.

She is also in line for a bonus of up to £2.9million as well as one year of her £2.4million basic package of salary while she sees out 12 months of gardening leave.