The FTSE 100 lender reported a pretax operating profit of £3billion in the first six months of 2024, down from £3.6bn last year but ahead of the £2.6bn analysts expected The fall came due to a 6% fall in net interest income, which dropped to £5.4bn compared with last year's figure of £5.7bn. Net interest income reflects the revenue banks make from lending minus the cost of deposits.
Compared with last year, NatWest reported lower deposit balances and "lending margin pressure".
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