Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  NatWest Group plc    NWG   GB00B7T77214

NATWEST GROUP PLC

(NWG)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

NatWest : Surprises With Swing to 3Q Operating Pretax Profit Despite Impairments

10/30/2020 | 02:42am EST

By Sabela Ojea

NatWest Group PLC on Friday reported an unexpected swing to operating pretax profit for the third quarter of 2020 despite booking a considerable amount of impairments, and said that its retail banking customer activity levels improved significantly compared with the second quarter of the year.

The U.K. bank posted an operating pretax profit of 355 million pounds ($459 million) after booking GBP254 million in impairment losses. This compares with an operating pretax loss of GBP8 million for the same period a year earlier and a loss of GBP1.29 billion in the second quarter of the year.

NatWest was expected to report an operating pretax loss of GBP75 million for the third quarter of the year, and impairment losses of GBP628 million, according to the bank's own compilation of forecasts.

The FTSE-100 listed bank's total income declined to GBP2.42 billion from GBP2.90 billion in the year-earlier period. The lender said total income decreased due to lower fee income on overdrafts, lower deposit returns, mortgage margin dilution and lower international spend-related fee income, which was partially offset by strong balance growth in mortgages and customer deposits.

Nat West's common equity Tier 1 capital ratio--a measure of a bank's financial strength--stood at 18.2%, up from 17.2% as at June 30. It was anticipated at 16.7%, according to the lender's compilation of forecasts.

The bank added that it maintains its outlook guidance for the whole year, but noted that impairment charges are now likely to be at the lower end of the GBP3.5 billion-GBP4.5 billion range.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

10-30-20 0341ET

Stocks mentioned in the article
ChangeLast1st jan.
MSCI UNITED KINGDOM (STRD, UHD) 2.05% 1007.138 Real-time Quote.-17.10%
NATWEST GROUP PLC -2.47% 161.85 Delayed Quote.-30.86%
All news about NATWEST GROUP PLC
11/20MPs to buttress post-Brexit Britain as a financial centre
RE
11/18Canada's Intact, Denmark's Tryg agree to buy British insurer RSA for $9.6 bil..
RE
11/17Sainsbury's banking business and Co-op Bank attract suitors
RE
11/17BoE's Bailey urges banks to commit to post-COVID recovery
RE
11/16Britain decouples from EU with delay to bank and investment rules
RE
11/16Britain decouples from EU with delay to bank and investment rules
RE
11/16NATWEST : commits to Science-Based Targets initiative
RE
11/13UK watchdog jettisons interest rate and fees reform due to COVID
RE
11/12NATWEST : to Transfer Northern Irish Business to National Westminster Bank
DJ
11/11NATWEST : CFO Round Table
PU
More news
Financials
Sales 2020 11 041 M 14 735 M 14 735 M
Net income 2020 -670 M -894 M -894 M
Net Debt 2020 - - -
P/E ratio 2020 -27,3x
Yield 2020 2,56%
Capitalization 20 123 M 26 871 M 26 855 M
Capi. / Sales 2020 1,82x
Capi. / Sales 2021 1,85x
Nbr of Employees 61 600
Free-Float 37,9%
Chart NATWEST GROUP PLC
Duration : Period :
NatWest Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NATWEST GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 153,45 GBX
Last Close Price 166,15 GBX
Spread / Highest target 38,4%
Spread / Average Target -7,64%
Spread / Lowest Target -39,8%
EPS Revisions
Managers
NameTitle
Alison Marie Rose-Slade Chief Executive Officer & Director
Howard John Davies Chairman
Katie Murray Chief Financial Officer & Executive Director
Robert Andrew Joseph Gillespie Independent Non-Executive Director
Morten Nicolai Friis Independent Non-Executive Director
Sector and Competitors