NatWest announces biggest profits since financial crisis
Campaigners say government ‘missed an enormous opportunity’ to reform banking
HIGHER interest rates have helped NatWest Group make its biggest annual profit since 2007 in what banking reform campaigners have called an “enormous missed opportunity” by the Tories.
The banking group, which also includes Royal Bank of Scotland, Coutts and Ulster Bank, unveiled an operating pre-tax profit of £6.2 billion, beating the £6bn analysts had predicted and a fifth higher than 2022.
Profits were boosted by an increased income of £14.3bn – a tenth higher year-on-year – underpinned by raised interest rates.
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