NAT WORST
Daily Star|July 29, 2023
Crisis-hit bank rakes in extra £1bn profits while we all struggle
MEG JORSH
NAT WORST

NATWEST Group’s profits have surged by nearly £1billion as account-holders battle the cost-of-living crisis.

The British finance giant – which sparked a row when one of its posh banking brands closed Nigel Garage’s bank account – reported a “strong” financial performance for the first half of 2023.

Its pre-tax profits leapt to £3.6bn, compared to £2.6bn in the same period last year. The lender has been raking in cash thanks to higher interest rates pushing up the cost of borrowing as mortgages continue to rise.

Its group chair Howard Davies was seen this week with a hefty wad of cash near his London home.

This story is from the July 29, 2023 edition of Daily Star.

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This story is from the July 29, 2023 edition of Daily Star.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.