In a statement made last week, Dame Alison apologized to Farage for the closure of his accounts and ordered an immediate review of the processes followed by its Coutts subsidiary.

The NatWest board has stated that it retains full confidence in Dame Alison as the CEO of the bank, but the events will be taken into account when deciding her remuneration.

The chairman of NatWest, Howard Davies, has said that there have been "serious consequences" for the bank as a result of the "unsatisfactory" handling of the closure of Farage's account.

The story first came to light when the BBC inaccurately reported that Farage's account was closed due to financial thresholds not being met.

However, documents obtained by Farage later showed that his political beliefs and connections formed part of the rationale.

The BBC subsequently apologized for the report.

Dame Alison has stated that she believed it was public knowledge that Farage was a Coutts customer and had been offered a NatWest account, and so confirmed these details to Jack.

However, she acknowledged that she left Jack with the impression that the decision to close Farage's accounts was solely a commercial one.

She also recognized that she should not have revealed any personal financial information about Farage.

Farage has criticized Dame Alison for breaking client confidentiality and is unfit to be the CEO of NatWest.

He has called for the resignation of Coutts CEO Peter Flavel, claiming that he should take "the ultimate responsibility" for de-banking Farage based on his political views.

The NatWest board believes that Dame Alison is an outstanding leader of the institution, as demonstrated by the bank's results over the past four years.

The findings of the NatWest review into the closing of Farage's accounts will be made public, and the terms of reference will be announced shortly.

The banking regulator, the Financial Conduct Authority, has raised concerns about the breach of customer confidentiality and has made it