JERSEY CITY - Natwest Bank said it will commit $150 million to making loans to low-income homebuyers, minority small businesses, and housing projects for people of low or moderate income.
In February 1993 Natwest signed a three-year agreement with New Jersey Citizen Action to lend $40 million for such purposes. However, the bank said, it met all that agreement's targets a year early and asked the citizens group to sign a more comprehensive agreement.
The new commitment will last until the year 2000.
National Westminster Bancorp has $29 billion in assets and operates 325 branch offices in New York and New Jersey. It is a subsidiary of National Westminster Bank PLC of London.