NatWest Group reports Q3 EPS 14.1p vs 9.8p last year

Q3 Attributable profit of GBP 1,172 million and a return on tangible equity of 18.3%. Total income excluding notable items of GBP 3,772 million was GBP 182 million, or 5.1%, higher than Q2 2024 primarily reflecting lending and deposit growth and margin expansion. Net interest margin of 2.18% was 8 basis points higher. Common Equity Tier 1 ratio of 13.9% was 30 basis points higher than Q2 2024. Chief Executive, Paul Thwaite, commented: “The strength of NatWest Group’s (NWG) performance is underpinned by the support we provide to our 19 million customers in every nation and region of 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.”