NatWest profits rise – London Business News | Londonlovesbusiness.com

NatWest has reported in the three months to September they had a 25% increase in profits to £1.67 billion.

The bank’s operating profits rose £2.6 billion in the quarter which saw a 25.7% rise year on year and surpassed predictions.

Chief executive Paul Thwaite said: “The strength of NatWest Group’s performance is underpinned by the support we provide to our 19 million customers across the UK.

“By continuing to deliver against our strategy, we are growing and simplifying our bank whilst managing our capital more efficiently.

“As the UK’s biggest bank for business, and one that serves millions of households, NatWest Group plays a key role in driving economic growth across the UK. Throughout the third quarter of 2024, we have grown our lending, helping customers to buy or remortgage their homes or to start and grow their businesses.

“With customer activity increasing, defaults remaining low and optimism amongst businesses and consumers, we are well placed to succeed with our customers and for our shareholders in the months and years ahead.”