NatWest Reports Profit Surge
NatWest reported quarterly profits of £2 billion. The bank lifted its revenue forecast for the year. Increased borrowing costs resulting from the Iran War helped fuel the rise in profits. NatWest Bank has reported a surge in profits following its return to private ownership from taxpayer control. The bank's results come as mortgage lending remains a primary revenue driver for the high street institution. Analysts noted the bank must report its actual financial performance despite potential public perception issues regarding mortgage-driven earnings.
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Sources · 7 independent
Times Radio UK
“The rise in borrowing costs because of the Iran War has helped to fuel an increase in quarterly profits at NatWest to £2 billion and has prompted the bank to lift its revenue forecast for the year.”
Times Radio UK
“NatWest Bank has seen its profit surge as mortgage rates”
Times Radio UK
“NatWest Bank has seen its profit surge as mortgage rates... We've only just really got NatWest back out of the taxpayer's hands.”
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