Business
Final Results - NatWest Group plc
Final Results - NatWest Group plc.
About this update from Natwest Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Annual Results\n \n \n \n \n For the year ended 31 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n natwestgroup.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n NatWest Group plc\n \n \n 2022 NatWest Group performance summary\n \n \n \n Chief Executive, Alison Rose, commented:\n \n \n \n \"NatWest Group delivered a strong performance in 2022, with pre-tax profit up more than a third to £5.1 billion. We made considerable progress against our strategic goals, maintained a well-balanced loan book and distributed significant capital to our shareholders, including the UK Government.\n \n \n Despite not yet seeing significant signs of financial distress among our customers, we are acutely aware that many people and businesses are struggling right now and that many more are worried about what the future holds. Our robust balance sheet, responsible lending and continued capital generation allow us to proactively support those who need it, whilst helping others to get ahead of the challenges to come.\n \n \n As well as supporting our customers, this financial strength also allows us to continue investing in our business to meet the changing needs of our customers. By building long term relevance, trust and value through our purpose-led strategy, we will deliver sustainable returns and, ultimately, help to drive economic growth across the UK.\"\n \n \n \n \n \n \n Strong financial performance and delivery against our targets\n \n \n \n \n \n \n \n \n \n \n \n \n - \n \n Full year attributable profit of £3,340 million and a return on tangible equity of 12.3%.\n \n \n \n - \n Excluding notable items, income increased by £2,877 million, or 28.3%, compared with 2021 principally reflecting volume growth, higher trading income and the improved rate environment.\n \n \n - \n Bank NIM of 2.85% was 55 basis points higher than 2021. Q4 2022 Bank NIM increased by 21 basis points to 3.20% compared with Q3 2022.\n \n \n - \n Total opera...