NatWest Group PLC

NWG

Equity

ISIN US6390572070 / Valor 121058094

New York Stock Exchange, Inc (2024-12-24)

USD 10.25+1.08%

NatWest Group PLC
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About company

NatWest Group PLC is a prominent banking institution based in the United Kingdom, catering to a diverse clientele of over 19 million customers. The group operates primarily within the UK, focusing on delivering a wide range of financial services and products. Its business operations are segmented into three main areas: retail banking, commercial banking, and private banking. Through these segments, NatWest Group offers a comprehensive suite of services including, but not limited to, savings and checking accounts, loans, mortgages, and wealth management solutions. The organization's commitment to serving the financial needs of individuals, small and medium-sized enterprises (SMEs), and larger corporations underscores its role as a key player in the UK's financial landscape.

Summarized from source with an LLMView SourceSector: Finance

Profit and Return on Equity

In the third quarter of 2024, NatWest Group PLC reported an attributable profit of £1,172 million, achieving a return on tangible equity (RoTE) of 18.3%. This performance highlights the bank's ability to generate substantial returns for its shareholders, reflecting strong operational efficiency and strategic execution.

Income and Net Interest Margin

NatWest Group PLC's total income, excluding notable items, reached £3,772 million in Q3 2024, marking a 5.1% increase from the previous quarter. The net interest margin (NIM) improved by 8 basis points to 2.18%, driven by growth in lending and deposits, as well as margin expansion.

Loan and Deposit Growth

During Q3 2024, NatWest Group PLC saw a significant increase in net loans to customers, excluding central items, by £8.4 billion. This growth included a £2.3 billion contribution from the acquisition of the Metro Bank mortgage portfolio. Customer deposits also rose by £2.2 billion, with growth observed across all business segments.

Capital and Liquidity Position

NatWest Group PLC maintained a strong capital position with a Common Equity Tier 1 (CET1) ratio of 13.9%, up by 30 basis points from Q2 2024. The liquidity coverage ratio (LCR) stood at 148%, providing a £52.7 billion headroom above the minimum requirement, despite a slight decrease compared to the previous quarter.

Outlook and Future Expectations

Looking ahead, NatWest Group PLC expects to achieve a return on tangible equity above 15% for the full year 2024. The bank anticipates total income, excluding notable items, to be around £14.4 billion, with operating costs remaining stable compared to 2023. The loan impairment rate is projected to stay below 15 basis points, reflecting a cautious yet optimistic economic outlook.

Summarized from source with an LLMView Source

Key figures

81.4%1Y

56.7%3Y

49.9%5Y

Performance

29.1%1Y

34.8%3Y

41.6%5Y

Volatility