NatWest sees profit surge and raises outlook due to growth in wealth and loans
Strong Profit Growth: NatWest reported a 30% increase in third-quarter profit, reaching £2.2 billion, surpassing analyst expectations and reflecting growth in loans and assets in its wealth business.
Upgraded Performance Targets: The bank raised its return on tangible equity forecast for the year to above 18%, driven by broad-based loan growth and an 8.1% increase in assets under management.
Contrast with Rivals: NatWest's performance stands in stark contrast to Lloyds, which faced profit declines due to charges related to motor finance mis-selling, a market that NatWest successfully navigated.
Return to Private Ownership: NatWest completed its return to full private ownership in May 2023, concluding a long-term government investment that began after its rescue during the 2008 financial crisis.
About the author









