play_arrow

keyboard_arrow_right

skip_previous play_arrow skip_next
00:00 00:00
chevron_left
volume_up
chevron_left
  • cover play_arrow

    Rother Radio (128k) Love Local, Love Music!

  • cover play_arrow

    Rother Radio (64K) Love Local, Love Music!

  • cover play_arrow

    Hit Music Radio (128K) More Music Variety!

  • cover play_arrow

    Hit Music Radio (64K) The Best Variety of Hits!

Business News

NatWest reports pre-tax operating profit of £1.1bn

today29/10/2021

Background
share close

NatWest has reported a pre-tax operating profit of £1.1bn in the third financial quarter.

The profit for the months July to September was better than the £677m average of analyst forecasts and was also up from £355m a year ago.

It comes despite a £294m litigation and conduct charge for the quarter – which includes provisions for an anticipated fine after the bank pleaded guilty earlier this month to failing to prevent the laundering of £365m.

Chief Executive, Alison Rose, said: “Throughout Q3, NatWest continued to deliver a strong operating performance; growing in key areas and accelerating our digital transformation to improve customer experience and make our business more efficient.

“Our robust capital position means that we have been able to buy back around £402m of our shares, whilst also investing for growth as we support our customers and drive sustainable returns to our shareholders.

“Although we are seeing challenges in the economy and for our customers – especially around supply chains and the cost of living – a number of key indicators remain positive; growth is good, unemployment is low and there are limited signs of default across our book.

“We have a vital role to play in helping the 19 million people, families and businesses we serve in communities throughout the UK to thrive.”

More from Business

Barclays, HSBC and Lloyds have already announced bumper profits this month, all helped by the release of money that had been set aside to cover bad loans expected as a result of the coronavirus pandemic.

For NatWest, this resulted in the unlocking of £242m as the economic outlook has improved.

 Sky News

© Sky News 2021

Written by: Rother Radio News


Previous post

Entertainment News

Armourer on set of Alec Baldwin movie says her role in fatal shooting was ‘falsely portrayed’

The person in charge of weapons on the movie set where Alec Baldwin fatally shot a cinematographer has spoken out, claiming her role in the incident has been "falsely portrayed".Halyna Hutchins, 42, was killed when Baldwin discharged a firearm on the set of western movie Rust. The film's director Joel Souza - who was standing behind her - was shot in the shoulder. Image: Cinematographer Halyna Hutchins was killed in […]

today29/10/2021