Strong first quarter results come as NatWest warns of ‘uncertain’ economy due to cost of living crisis
NatWest has reported a 40% jump in first quarter profits but warned of the UK’s “uncertain” economy amid the cost of living crisis, saying it had already referred more than 2,000 customers to debt experts at Citizens Advice.
The banking group – formerly known as Royal Bank of Scotland – beat expectations after reporting a jump in pre-tax profits to £1.2bn compared with £885m a year earlier. That was compared to analyst forecasts of a 15% drop in profits to £755m.
