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".
This story is from the July 27, 2024 edition of Daily Express.
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This story is from the July 27, 2024 edition of Daily Express.
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