Team GB have announced NatWest as its official banking partner ©Team GB

Under fire bank NatWest is the latest big corporate name to sign up to support Team GB as it continues its preparations for next year's Olympic Games in Paris.

NatWest will join the British Olympic Association (BOA) as its official banking partner shortly after the company’s chief executive Dame Alison Rose was forced to resign.

She stepped down after admitting to inaccurately briefing a BBC journalist over why Coutts, a NatWest subsidiary, had closed the account of former Brexit party leader Nigel Farage.

Dame Alison's resignation wiped £600 million ($740 million/€690 million) off NatWest’s stock market value.

Team GB's announcement of a partnership with NatWest comes shortly after the company's chief executive Dame Alison Rose was forced to resign ©NatWest
Team GB's announcement of a partnership with NatWest comes shortly after the company's chief executive Dame Alison Rose was forced to resign ©NatWest

This new partnership will see Team GB and NatWest work to support local communities and champion the potential of people throughout the nation, in line with the BOA's drive towards positive change for young people in the United Kingdom.

The collaboration will also bolster the support available for Team GB athletes throughout their careers, with resources on hand to help them set up small businesses, expand side hustles and support their general financial confidence and planning.

"NatWest are joining us at a vital point on our road to the Paris 2024 Olympic Games," BOA chief executive Andy Anson said.

"Our preparations are advancing at pace, and it's important that we do everything we can to make sure our athletes can reach their own potential, as well as inspiring the nation to do the same.

"Sharing a common goal makes for a strong and meaningful partnership, and we look forward to working with NatWest in the run up to Paris 2024 and beyond."

Team GB are aiming to finish as the top European nation at Paris 2024 for the fourth consecutive Olympic Games ©Team GB
Team GB are aiming to finish as the top European nation at Paris 2024 for the fourth consecutive Olympic Games ©Team GB

NatWest joins several companies who have pledged their support to Team GB as they seek to maintain their position as Europe's leading nation on the medals table for a fourth consecutive Olympics having finished third at London 2012, second at Rio 2016 and fourth at Tokyo 2020.

Last week, the BOA and Mappin & Webb announced the launch of an exclusive Team GB collection celebrating the spirit of the Olympics and the achievements of its athletes.

"We share a common goal with Team GB - to champion potential - and together, through inspiration and expertise, we are on a mission to support communities, businesses and individuals across the UK," NatWest chief marketing officer Margaret Jobling said.

"We look forward to supporting members of Team GB over the next year on their journey to Paris 2024."