Farage affair is ‘a monumental PR disaster’ for exclusive bank Coutts

Private lender's reputation is at risk after decision to cut ties with former Ukip leader and comments about him

• NatWest boss apologises to Nigel Farage over Coutts account closure row
• Explainer: What the new rules on bank account closures mean

For 331 years Coutts's reputation for guaranteeing the utmost discretion made it the bank of choice for the rich and famous - including King Charles and every member of the royal family since George IV.

Now Coutts finds itself a very high-profile target in the latest UK culture war, following a decision to cut ties with its former customer Nigel Farage, after a review by its wealth reputational risk committee decided thath his views did not align with [the bank's] purpose and values". The affair, say crisis management experts, risks destroying Coutts's reputation, if not its entire business".