NatWest Posts Flat Third Quarter Profit
NatWest reported a flat third quarter pretax operating profit of £2.2 billion as lending grew and deposit margins held steady. The British bank reaffirmed its full year performance targets despite facing a tougher economic outlook.
Insights:
NatWest reported a pretax operating profit of £2.2B for the third quarter on Friday morning, matching the previous year as lending expanded. The United Kingdom lender held its full-year guidance steady rather than upgrading targets. Increased competition for savers' deposits and margin pressures weighed on British banks during the period.
