NatWest Group Reports Strong Q2 Performance, Raises Guidance
NatWest Group reported a strong second-quarter performance marked by an increase in income excluding notable items to £4.4 billion and operating profit rising to £2.3 billion. Return on tangible equity reached 21%, prompting the bank to raise its full-year return-on-tangible-equity guidance above 19%. The growth was broad-based, with customer assets increasing by £86.8 billion due in part to a successful acquisition of Evelyn Partners. Credit quality remained resilient as impairment rates were lower than expected at 13 basis points and the CET1 ratio stood at 13.2%. NatWest also raised its full-year income guidance to approximately £17.9 billion, signaling confidence in continued performance improvement. CFO Katie Murray highlighted progress toward long-term targets for customer growth, efficiency, capital generation, and returns. The bank's first-half return on tangible equity was reported at 19.7%, with non-interest income rising by 15%. The cost-income ratio improved to 46% in the first half of the year due to better control over operating costs.
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