Published 11 days ago

NatWest becomes latest UK bank to report sharp drop in profits

Summary by Sky News UK

The lender said pre-tax earnings in the first quarter of 2024 were £1.3bn - a decline of nearly 28% on the same period a year ago. Lloyds and Barclays also reported falls earlier this week.

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Reuters

NatWest profit falls less than feared ahead of state escape

British bank NatWest's first-quarter profit fell by a less than expected 27%, it said on Friday, having weathered a sector-wide squeeze on income from increased competition for savings, lending and mortgage products over the past year.

11 days ago·United Kingdom

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Sky News UK

NatWest becomes latest UK bank to report sharp drop in profits

The lender said pre-tax earnings in the first quarter of 2024 were £1.3bn - a decline of nearly 28% on the same period a year ago. Lloyds and Barclays also reported falls earlier this week.

11 days ago·United Kingdom

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The Times

NatWest profits beat expectations despite pressure on mortgages

The bank said its first-quarter results were strong and left it in a good position for the government’s planned sale of shares to the public

11 days ago·London, United Kingdom

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WTVB

NatWest first-quarter profit slumps 27% as savings, mortgage competition bite

By Lawrence White LONDON (Reuters) -NatWest’s first-quarter profit fell by a less than expected 27%, it said on Friday, hit by competition for savings, lending and mortgage products which has squeezed margins across the sector. The British bank said pretax operating profit for the January-March period was 1.3 billion pounds ($1.63 billion), down from 1.8 billion pounds a year earlier and just above the average of analyst forecasts of 1.2 billion…

11 days ago

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Wall Street Journal

NatWest Backs Guidance After Income, Profit Beat Estimates

NatWest kept its 2024 guidance unchanged as it reported a slightly smaller-than-expected fall in income and profit for its first quarter.

11 days ago·New York, United States

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City AM

Natwest shares jump after first quarter results as government continues to reduce stake

Natwest’s profit slumped in the first quarter of the year but stayed ahead of market expectations as it shrugged off the worst of the mortgage downturn and expanded its lending book. The Big Four bank posted an operating profit of £1.3bn in the first three months of 2024, down 27 per cent from £1.82bn in the same period last year but little changed from £1.26bn in the previous quarter. Analysts had expected a first-quarter profit of £1.25bn. Int…

11 days ago·London, United Kingdom

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