NatWest Lowers 2023 Net Interest Margin Guidance; 2Q Pretax Profit Beat Views
28 Julho 2023 - 4:06AM
Dow Jones News
By Elena Vardon
NatWest Group on Friday posted better-than-expected pretax
profit for the second quarter of 2023 and trimmed its net interest
margin guidance for 2023, though it backed its other targets.
The U.K. bank now expects its banking net interest margin for
the year to be less than 3.20%, from around 3.20% previously, with
the margin currently seen at around 3.15%.
The lender posted an operating pretax profit of 1.77 billion
pounds ($2.27 billion) for the three months ended June 30 compared
with GBP1.40 billion for the second quarter of 2022, against the
GBP1.49 billion expected in a company-compiled consensus.
NatWest--which the U.K. government has a 38.69% stake in--said
total income rose to GBP3.85 billion from GBP3.21 billion, beating
the GBP3.71 billion forecast by analysts. Net interest income was
GBP2.82 billion, below consensus of GBP2.90 billion. Its net
interest margin was 3.13% for the second quarter, below the
expected 3.22%, it said.
The board declared an interim dividend of 5.5 pence a share,
missing views of a 5.7 pence payout.
The bank launched a GBP500 million on-market share buyback
program for the second half, ahead of expectations of a GBP251
million program.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
July 28, 2023 02:51 ET (06:51 GMT)
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