NatWest has reported a strong performance with its Q3 2021 results, increasing from the numbers reported this quarter last year. The results are considerably better than analyst predictions.
Alison Rose, CEO of NatWest Group has said:
“Throughout Q3 2021, NatWest continued to deliver a strong operating performance; growing in key areas and accelerating our digital transformation to improve customer experience and make our business more efficient. Our robust capital position means that we have been able to buy back £402 million of our shares to date(1) whilst also investing for growth as we support our customers and drive sustainable returns to our shareholders.”
Despite the strong results, NatWest may be facing a fine up to £340 million after admitting it didn’t do enough to stop money laundering prior to 2016.
As of July 2021 the UK Government still holds a 54.7% stake in NatWest as a result of the bailout during the 2008 financial crisis. The intention currently stands to sell off the remaining stake the government holds by 2025-2026.
Overall NatWest Group has reported some very strong results, with a higher than average CET1 ratio of 18.7%, beating analyst predictions by considerable margins. At the time of publishing NatWest Group plc stock is up 0.47% following the results.