NatWest has reported a 36% rise in pre-tax profits to £1.8 billion for Q1, exceeding analyst expectations. This financial boost comes as the UK government approaches a complete exit from its stake, initially held at 85% during the 2007-09 bailout. With a significant increase in lending and deposits, along with raised forecasts for future performance, the results underscore a larger trend of resilience among customers amidst global uncertainties and rising credit risks flagged by other banks. Chief executive Paul Thwaite acknowledged a volatile environment but remained optimistic about the bank's operations and profitability.
The bank reported a 36% rise in pre-tax profits, reaching £1.8 billion for the quarter, surpassing analysts' expectations and highlighting resilience in customer activity.
Chief executive Paul Thwaite expressed optimism about the bank's performance in the face of global uncertainty, noting 'good levels of activity' across operations despite a more volatile environment.
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