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[1/2] Chairman Anthony Thomson (L) and Vice Chairman Vernon Hill pose with a dog outside the first branch of Metro Bank in Holborn in central London July 29, 2010. Metro declined to comment on Tuesday. A Starling spokesperson said the lender was making inroads into the big banks' market dominance. Metro is not the only smaller bank to have faced problems. One option is for smaller banks to gain scale through mergers and acquisitions.

Persons: Anthony Thomson, Vernon Hill, Toby Melville, John Cronin, Caius Capital, Jaime Gilinski, Dorita, Gilinski, Monzo, Starling, We've, Morgan Stanley, Gary Greenwood, Rupak Ghose, Shore Capital's Greenwood, Ghose, Shawbrook, Iain Withers, Pablo Mayo Cerqueiro, Anousha Sakoui, Huw Jones, Amy, Jo Crowley, Sinead Cruise, Chiara Elisei, Nelson Bocanegra, Alexander Smith, Jonathan Oatis Organizations: Metro Bank, REUTERS, Yorkshire, Lloyds, NatWest, HSBC, Barclays, Metro, Caius, Varde Partners, Harvard, Forbes, Finance, Bank of England, London Stock Exchange, The Bank of England, Prudential, Authority, Shore Capital, Reuters Graphics Reuters, Shore, Financial, Bank, Reuters, Thomson Locations: Holborn, London, BOGOTA, Starling, Colombian, Latin America, Metro, Bogota

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

☆ UK's embattled Metro Bank expected to struggle to raise capital with 'no easy solutions'
▼ + stars: | 2023-10-06 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The U.K.'s embattled Metro Bank has launched talks to sell a third of its mortgage book in an urgent attempt to shore up its balance sheet. LONDON — The U.K.'s Metro Bank will likely struggle to raise fresh capital to shore up its balance sheet, according to analysts, who outlined bleak prospects for the beleaguered bank. The turmoil came amid reports that the embattled bank was seeking to raise up to £250 million ($305 million) in equity funding and £350 million of debt. Metro Bank confirmed in a statement early Thursday that it was considering "how best to enhance its capital resources." Metro Bank did not immediately respond to CNBC's request for comment on the reports; nor did any of the rival banks cited.

Persons: Fitch Organizations: Metro Bank, HSBC, Lloyds Banking Group, NatWest Group, Sky News, Investment, Bank of, Barclays Bank Locations: Wednesday's

LONDON (AP) — Shares in the troubled British lender Metro Bank bounced back by a third on Friday on reports that it has been sounding out bigger rivals to buy a chunk of its assets. Sky News reported that advisers to the bank have contacted Lloyds Banking Group and NatWest Group among others. But it stressed that “no decision has been made on whether to proceed with any of these options." Gary Greenwood, an equity research analyst for Shore Capital Markets, suggested that the business could struggle to find backers for a potential fundraising exercise. Political Cartoons View All 1202 Images“Metro Bank has been struggling for a number of years to establish itself as a profitable and self-sustaining bank," he said.

Persons: Gary Greenwood Organizations: Metro Bank, Sky News, Lloyds Banking Group, NatWest Group, London Stock Exchange, Shore Capital Markets, Bank Locations: Britain

☆ Coinbase CEO slams JPMorgan for banning crypto payments in UK, suggests government should act
▼ + stars: | 2023-09-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Coinbase CEO Brian Armstrong is unhappy with JPMorgan Chase's decision to block crypto-related transactions at its U.K. digital banking subsidiary, Chase UK. "I don't think that's OK. I don't think that's the rule of things in our society. Other British lenders have taken similar steps to bar crypto transactions, citing the risk of fraud. Examples include NatWest, which placed limits on the amount of cash that can be sent to crypto exchanges, and HSBC , which banned crypto purchases altogether.

Persons: Brian Armstrong, Armstrong, CNBC's Organizations: Coinbase Global Inc, JPMorgan, Chase, NatWest, HSBC Locations: New York

NEW YORK (AP) — Chase UK, JP Morgan's British digital bank, says it will bar customers from making cryptocurrency transactions starting next month — citing an uptick in scams and fraud. From Oct. 16 onward, Chase customers will no longer be able to make crypto transactions using their debit card or through an outgoing bank transfer, the bank said Tuesday. “If we think you're making a payment related to crypto assets, we'll decline it,” Chase said in an email to customers. The AP also reached out to Action Fraud for statement Tuesday following Chase's decision to stop customers from making crypto transactions. to make it harder for customers to participate in crypto markets and therefore less likely to fall victim to scams,” they wrote.

Persons: —, JP, Chase, ” Chase, Dan Wyatt, Christopher Whitehouse, JPMorgan Chase, Wyatt, Whitehouse, ” Organizations: — Chase, Associated Press, AP, JPMorgan, Chase, NatWest Locations: British, London

JPMorgan Chase Bank is seen in New York City, U.S., March 21, 2023. REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsLONDON, Sept 26 (Reuters) - JPMorgan's (JPM.N) British retail bank Chase will ban crypto transactions made by customers from Oct. 16 due to an increase in fraud and scams, the company said on Tuesday. "We've seen an increase in the number of crypto scams targeting UK consumers, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto site from a Chase account," a spokesperson for the bank said. JPMorgan has attracted more than 1.6 million customers to its Chase retail bank since launching the mobile app-based service in Britain two years ago, and plans to roll out the consumer bank in other international markets over time. Spain's Santander said last year it would block UK customers from sending real-time payments to crypto exchanges as part of measures to protect customers from scams.

Persons: Caitlin Ochs, Chase, Spain's Santander, Iain Withers, Tom Wilson, Susan Fenton, Christina Fincher Organizations: JPMorgan Chase Bank, REUTERS, Chase, JPMorgan, NatWest, Thomson Locations: New York City, U.S, Chase, Britain

☆ JPMorgan's UK digital bank blocks customers from buying crypto
▼ + stars: | 2023-09-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Chase UK, the British challenger bank brand of JPMorgan, has blocked customers in the U.K. from purchasing crypto assets. The company said in a statement Tuesday that, starting Oct. 16, Chase UK customers would "no longer be able to make crypto transactions via debit card or by outgoing bank transfer." Chase UK cited data from Action Fraud, Britain's fraud reporting agency, that showed U.K consumer losses to crypto fraud increased by over 40% in the last year, surpassing £300 million for the first time. Chase UK is the latest bank in the country to take steps to limit the ability of their customers to purchase cryptocurrencies. "We're committed to helping keep our customers' money safe and secure," a Chase spokesperson told CNBC via email Tuesday.

Persons: Chase, We're Organizations: Chase, JPMorgan, Wales, Office, National Statistics, cryptocurrencies, NatWest, HSBC, Nationwide, CNBC Locations: England

☆ Goldman says these global stocks are set to soar on share buybacks — giving one over 100% upside
▼ + stars: | 2023-09-14 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Analysts from Goldman Sachs named the European stocks they predict will announce significant buybacks until 2024 — which they say will present substantial upside to their share prices. Stocks with massive upside potential On its list of "companies forecast to execute buybacks over 2022-24," Goldman Sachs included financial players NatWest Group , Lloyds Banking Group , Barclays and BAWAG Group . NatWest Group is expected to have a share reduction of 18% between 2022 and 2024. Barclays — which is penciled to have a share reduction of 11% between 2022 and 2024 — was also rated a buy. The company is looking at a 12% share reduction over the next two years.

Persons: Goldman Sachs, Buybacks, —, Goldman, Prosus, — CNBC's Michael Bloom Organizations: Companies, NatWest Group, Lloyds Banking Group, Barclays, BAWAG Group, BAWAG, Media Locations: Europe, United States

☆ NatWest appoints former Nationwide CFO to its UK bank board
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

A man walks past ATM machines at branch of the NatWest bank in Manchester, Britain September 21, 2017. Picture taken September 21, 2017. REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - NatWest (NWG.L) has appointed Mark Rennison, a former Nationwide Building Society Chief Financial Officer, to the board of its ring-fenced retail bank, the British lender said on Friday. Rennison will serve as a non-executive independent director on the board of NatWest Holdings Limited (NWH), which contains the lender's retail, commercial and wealth banking businesses. Rennison's appointment follows Graham Beale stepping down from the NWH board on Aug. 31, as NatWest announced in April.

Persons: Phil Noble, Mark Rennison, Rennison, Graham Beale, Lawrence White, David Evans Organizations: NatWest, REUTERS, Nationwide Building Society, NatWest Holdings Limited, Thomson Locations: Manchester, Britain

☆ Some UK banks improving interest rates for savers, says watchdog
▼ + stars: | 2023-08-31 | by ( Huw Jones | ) www.reuters.com time to read: +1 min

Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. Lawmakers have criticised lenders for being quick to pass on higher Bank of England interest rates to borrowers, but much slower raising rates offered to savers. "In July, we outlined a 14-point action plan to ensure people can access a competitive savings market. The FCA said that since its plan was published, it had seen a greater availability of higher interest rates in both term limited and easy access accounts. "We have also seen moves by some savings providers to align the rates available on accounts currently on sale and those now closed," the watchdog added.

Persons: Toby Melville, Huw Jones, Mark Potter Organizations: FCA, Financial, Authority, REUTERS, Bank of, HSBC, Lloyds, NatWest, Barclays, Thomson Locations: London, Britain, Bank of England

☆ The Bank of England is facing major losses on its bond purchases — and it's set to get much worse
▼ + stars: | 2023-08-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

In late July, the central bank estimated that it would require the U.K. Treasury to backstop £150 billion ($189 billion) of losses on its asset purchase facility (APF). It saw the BOE accrue £895 billion worth of bond holdings while interest rates were historically low. However, the pace at which the central bank has had to tighten monetary policy in a bid to tame inflation means the costs have risen more sharply than anticipated. watch now"First, interest rates have risen far above levels assumed in the fiscal watchdog's spring forecasts. "On the other hand, though, while QE gilts are not sold, the BoE pays Bank Rate on the ~£900bn reserves it created to buy them.

Persons: Dan Kitwood, BOE, Sanjay Raja, Raja, Imogen Bachra, BoE, Bachra, QE Organizations: Bank of England, Getty, Deutsche Bank ., Treasury, AFP, Deutsche Bank, Bank, NatWest, — Locations: —

☆ NatWest weighs clawing back bonus from former CEO Rose
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of NatWest Bank, part of the Royal Bank of Scotland group is seen outside a branch in Enfield, London Britain November 15, 2017. Rose stepped down on July 25 after admitting to a "serious error of judgment" in discussing Farage's relationship with NatWest-owned Coutts with a BBC journalist. Natwest said Rose would continue to earn a fixed salary and fixed share awards totalling 2.4 million pounds ($3.03 million), and pension contributions worth 10%, in line with her 12-month notice period and pending the outcome of the inquiry. "Like other employees where an investigation outcome is pending, Alison is currently receiving her fixed pay," a NatWest spokesperson said. The lender will pay new CEO Paul Thwaite 1.05 million pounds ($1.39 million) in fixed salary, just below the 1.16 million it paid Rose, in addition to a fixed share allowance of about 1.1 million pounds, NatWest said.

Persons: John Sibley, Alison Rose, Nigel Farage's, Rose, Coutts, Alison, Farage, Rose's, Paul Thwaite, Chandini, Lawrence White, Sinead Cruise, Sharon Singleton Organizations: NatWest Bank, Royal Bank of, Enfield , London Britain, REUTERS, NatWest, BBC, Natwest, Thomson Locations: Enfield , London, Bengaluru, London

☆ Stingy UK bank saving rates may become a non-issue
▼ + stars: | 2023-08-10 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Aug 10 (Reuters Breakingviews) - Banks are keeping the fruits of higher interest rates for themselves. Between January 2022 and May 2023, the Bank of England hiked rates by 4.25 percentage points. The nine largest UK banks boosted the interest on easy-access savings accounts by 1.18 percentage points, the FCA found. The upshot is that they’ll have to bid more aggressively for funding in the future, for example by raising interest rates on savings accounts. Second-quarter results suggest it too is paying more for funding: interest expense almost doubled between the second half of 2022 and the first half of 2023.

Persons: juicier, BoE, George Hay, Streisand Neto Organizations: Reuters, Authority, Barclays, Lloyds Banking Group, Bank of, FCA, Monday, Reuters Graphics Reuters, NatWest, Barclays ’, Lloyds, Banco Santander, Banco Bilbao Vizcaya Argentaria, European Central Bank, Bank of England, ECB, Spanish, Financial, HSBC, Santander UK, Nationwide Building Society, TSB Bank, Virgin Money, Bank, Thomson Locations: Britain, Spain, Bank of England, Italy, Hungary

☆ NatWest cuts forecast peak for BoE rates to 5.5% from 6%
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: 1 min

Signage at a branch of NatWest Bank pictured in central London, May 21, 2008. REUTERS/Luke MacGregor/File PhotoLONDON, Aug 3 (Reuters) - NatWest Markets cut its forecast for the peak in Bank of England interest rates to 5.5% after the BoE's announcement of a latest rate hike and new guidance on Thursday, down from 6% it previously forecast. "We are revising our Bank Rate forecast and now look for just one more 25bp hike to 5.5% in September," NatWest Markets' chief UK economist, Ross Walker, wrote in a note to clients. "The apparent rowing-back in the MPC's policy-tightening guidance leaves us comfortable maintaining our negative bias on sterling," NatWest added. Reporting by David Milliken Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

Persons: Luke MacGregor, Ross Walker, David Milliken, William Schomberg Organizations: NatWest Bank, REUTERS, NatWest, Bank of, NatWest Markets, Thomson Locations: London, Bank, Bank of England

☆ HSBC CEO on Farage-Coutts spat: 'We do not exit clients based on their lawful personal views'
▼ + stars: | 2023-08-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

HSBC's U.K. headquarters are seen at the Canary Wharf financial district of London on July 31, 2018. Although refusing to discuss details of other banks and their clients, HSBC boss Quinn told CNBC on Tuesday that "our policy is not to de-bank or exit a client based on their lawful personal views." "We also have a responsibility as an institution to look at any areas of financial crime compliance or we have an obligation to collect information on KYC (Know Your Customer), so we have those competing obligations but to reiterate, as a policy we do not exit clients based on their lawful personal views." The closure of Farage's account triggered a heated debate in the U.K. and rocked the domestic banking industry. NatWest CEO Alison Rose was forced to resign, after she admitted discussing details of Farage's Coutts account with a BBC reporter in the wake of his allegations.

Persons: Tolga Akmen, Noel Quinn, Coutts, Nigel Farage's, Farage, Coutts —, —, Quinn, Alison Rose, Farage's Coutts, Peter Flavel, Rishi Sunak, Jonathan Bachman Organizations: AFP, Getty, LONDON, HSBC, Trump, NatWest Group, CNBC, NatWest, BBC, Brexit Party, UKIP Locations: London, U.K

☆ HSBC raises outlook as profits nearly double
▼ + stars: | 2023-08-01 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —HSBC’s profits have soared as it continues to cut costs and cash in on high interest rates around the world. The strong performance led the London-based lender to raise its outlook for the rest of the year, citing the current consensus for global interest rates. HSBC (HSBC) now projects a return on tangible equity — a key measure of profitability — “in the mid-teens for 2023 and 2024, which excludes the impact of material acquisitions and disposals,” it said. On Monday, a UK regulator said banks needed to do more to share the benefits of high interest rates with their customers as critics point out that many savings rates haven’t kept up with interest rates. “The pace and scale at which firms pass through higher interest rates to savers needs to improve … especially at a time of higher cost of living,” said the agency.

Persons: Hong Kong CNN —, Noel Quinn, haven’t, ” Organizations: Hong Kong CNN, Revenue, HSBC, Silicon, Bank, Financial, Authority, Barclays, NatWest Locations: Hong Kong, London, London’s, Canary

☆ Ex-NatWest banker awarded $115,400 after cancer-related discrimination
▼ + stars: | 2023-08-01 | by ( Kirstin Ridley | ) www.reuters.com time to read: +2 min

Signage at a branch of NatWest Bank pictured in central London, May 21, 2008. Cancer is listed as a disability under the UK Equality Act 2010, protecting sufferers from discrimination. NatWest was ordered to pay almost 87,700 pounds, including 35,000 pounds for injury to feelings and aggravated damages for Willis's losses until December 1, 2020. A NatWest spokesperson said the bank was pleased the case had been resolved and apologised for falling short of expected standards. "We recognise the extremely difficult personal circumstances in this case and have taken steps to ensure this cannot happen again," the spokesperson said.

Persons: Luke MacGregor, Adeline Willis, Willis, Kirstin Ridley, Angus MacSwan Organizations: NatWest Bank, REUTERS, NatWest, Cancer, Thomson Locations: London

☆ UK financial watchdog urges NatWest chair to stay put
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 31 (Reuters) - The chairman of NatWest (NWG.L) Howard Davies should remain in office to ensure stability for the bank, a senior official at Britain's Financial Conduct Authority said on Monday. "I agree with his view that it's important to have stability at NatWest and that having a chair remain in place will help support that," Mills told reporters. Davies said he intended to stay on at the bank for now - after also facing calls to resign. "The FCA position is that ultimately it's a decision for the board and its shareholders. We urge those shareholders and board to achieve stability," Mills said.

Persons: Howard Davies, Sheldon Mills, Andrew Griffith, Davies, Alison Rose, Mills, Rose, Nigel Farage's, Huw Jones Organizations: NatWest, Britain's, Authority, FCA, BBC, Thomson

☆ Britain's banks told to justify low savings rates by end of August
▼ + stars: | 2023-07-31 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

REUTERS/Henry Nicholls/File PhotoLONDON, July 31 (Reuters) - Britain's banks and building societies have until the end of August to justify to regulators why some of their savings rates are low or face sanctions, the markets watchdog said on Monday, as Bank of England rates look set to rise to their highest since 2008. Smaller lenders offer higher savings rates than their bigger rivals, the FCA added. "Firms offering the lowest savings rates will be required to justify by the end of August how those rates offer fair value, according to the consumer duty that enters into force today," the FCA said in a statement. Banks and building societies offering the lowest rates have to complete a "fair value" assessment for the regulator by the end of August. The FCA will also review the timing of changes to savings rates each time BoE rates move, publish an analysis every six months of easy-access rates, analyse how savings products contribute to profitability and, by the end of March 2024, review how firms engage with customers.

Persons: Henry Nicholls, Banks, BoE, Huw Jones, Kevin Liffey Organizations: REUTERS, Bank of, Financial Conduct Authority, Lloyds, HSBC, NatWest, Santander UK, Barclays, Nationwide Building Society, TSB Bank, Virgin Money, Bank, FCA, Thomson Locations: London, Britain

☆ Exclusive: Banks vote to limit accounting of emissions in bond and stock sales
▼ + stars: | 2023-07-30 | by ( Tommy Wilkes | ) www.reuters.com time to read: +5 min

Banks' accounting of these emissions will impact their targets for becoming carbon-neutral. The banks have also expressed concern about capital market-related emissions dwarfing their lending-related emissions, the sources said. The Partnership for Carbon Accounting Financials (PCAF), an association of banks seeking to harmonise carbon accounting across the industry, formed the working group comprising major banks in the hope that others will follow the standard that emerges. PCAF's board will now have the final say on whether to adopt the 33% accounting share for capital markets. A Standard Chartered spokesperson said the bank was comfortable with any emissions accounting threshold and declined to comment further.

Persons: Banks, Morgan Stanley, PCAF, ShareAction, Xavier Lerin, Tommy Reggiori Wilkes, Greg Roumeliotis, Rosalba O'Brien Organizations: Sierra Club, Carbon Accounting, Barclays, Bank of America, Citigroup, HSBC, BNP, NatWest, Standard Chartered, United Nations, Thomson Locations: London

But while Rose's departure means Europe's 25 biggest banks by assets are still 96% male-run, an analysis by Reuters has found that broader executive management teams have become slightly more balanced since last year. Top management teams at Europe's largest lenders are now 30.6% female, data compiled by Reuters shows, up from 25.6% for the same group of banks in early 2022. Reuters GraphicsAcross the broader financial services sector, however, a recent study by EY found that hiring of women at board of directors level in Europe had actually dipped. Companies appointed women to 44% of board openings in the 12 months through June 2023, down from 52% during the previous year. The overall gender split has nevertheless improved to 43% female and 57% male on the boards of European financial firms, EY found, from a 37%/63% split a year ago.

Persons: Alison Rose's, Isabelle Ferrand, Ann Francke, EY, Brenna Hughes, Tom Sims, Iain Withers, Jesus Aguado, Catherine Evans Organizations: NatWest, Reuters, Reuters Graphics, UBS, European, Chartered Management Institute, Companies, Thomson Locations: ZURICH, Europe, Frankfurt, London, Madrid

[1/2] A man walks past ATM machines at branch of the NatWest bank in Manchester, Britain September 21, 2017. Davies said he intended to stay at the bank for now and confirmed for the first time on Friday that political pressure had played a part in Rose's exit. "The political reaction to retaining Alison as CEO was such that her position was untenable," he told reporters. NatWest reported pre-tax profit of 3.6 billion pounds ($4.6 billion) for the period, compared to 2.6 billion pounds the prior year and above the 3.3 billion pound average of analyst forecasts compiled by the bank. NatWest booked a 233 million pounds charge for potential loan defaults - compared to the release of 54 million pounds last year - and lowered its net interest margin forecast for the year to below 3.2%, with an expectation of it hitting 3.15%.

Persons: Phil Noble, Davies, Nigel Farage's, Rose, Howard Davies, Alison Rose, Nigel Farage, Coutts, Peter Flavel, Alison, We've, NatWest's, Paul Thwaite, Thwaite, Iain Withers, Lawrence White, Sinead Cruise, Tomasz Janowski Organizations: NatWest, REUTERS, Rose NatWest, BBC, Reuters, Rivals Barclays, Lloyds, Barclays, Thomson Locations: Manchester, Britain, Britain's, Rose's

Davies said he intended to stay on at the bank for now - after also facing calls to resign - and confirmed for the first time that political pressure forced the board's hand in Rose's exit. "The political reaction to that was such... that her position was then untenable," he told reporters. Britain's finance ministry said the decision for Rose to depart was made by her and the bank's board. "The NatWest board is responsible for the bank's strategic and operational management," a Treasury spokesperson said. ($1 = 0.7820 pounds)Reporting by Iain Withers and Lawrence White, editing by Sinead Cruise and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Davies, Nigel Farage's, Rose, Howard Davies, Alison Rose, Nigel Farage, Coutts, Peter Flavel, We've, Alison, Travers Smith, Paul Thwaite, Iain Withers, Lawrence White, Sinead Cruise, Tomasz Janowski Organizations: NatWest, Rose NatWest, BBC, Treasury, Reuters, Thomson Locations: Britain's, Rose's, Britain

☆ NatWest reports profit rise amid fallout from Farage fiasco
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: +3 min

A sign outside a NatWest Group Plc bank branch in the City of London, UK, on Tuesday, July 25, 2023. Natwest is due to report first-half results on Friday, July 28. NatWest reported pre-tax profit of £3.6 billion ($4.6 billion) for the period, compared to £2.6 billion the prior year and above the £3.3 billion average of analyst forecasts compiled by the bank. NatWest remains under pressure over the Farage scandal. NatWest is nearly 40% taxpayer-owned following its bailout during the 2008-2009 global financial crisis, adding more weight to the government's position.

Persons: Hollie Adams, Nigel Farage, Alison Rose, Coutts, Rose, Peter Flavel, Paul Thwaite, Howard Davies, Thwaite Organizations: NatWest Group, City of, Natwest, Bloomberg, Getty, NatWest, BBC, Reuters, Rivals Barclays, Lloyds, Barclays Locations: City, City of London, Britain

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