LONDON BRIEFING: NatWest promises GBP3 billion distributions in 2021
Fri, 30th Jul 2021 08:24
(Alliance News) - NatWest Group on Friday posted a swing to first half profit, helped by an impairment release.
The Edinburgh-based bank posted total income of GBP5.32 billion in the first half of 2021, down 8.9% from GBP5.84 billion a year earlier. It swung to a pretax profit of GBP2.51 billion from a GBP770 million loss a year earlier.
Profit was boosted by a net impairment release of GBP707 million, contrasting with a hit of GBP2.86 billion taken a year earlier. While we see the potential for a more rapid recovery, we will continue to take an appropriate and conservative approach as the government schemes wind down and the economy reopens, Chief Executive Alison Rose commented.
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