Business
Interim Results - NatWest Group (Part 1 of 2)
Interim Results - NatWest Group (Part 1 of 2).
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 \n \n \n NatWest Group\n \n \n \n \n \n \n Interim Results 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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n NatWest Group plc \n \n \n \n \n \n natwestgroup.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n NatWest Group plc\n \n \n Interim results for the period ended 30 June 2022\n \n \n \n \n \n Chief Executive, Alison Rose, commented\n \n \n \"NatWest Group delivered a strong performance in the first half of 2022, building on two years of progress against our strategic priorities. We are growing our lending to customers and continuing our £3 billion investment programme to create a simpler and better banking experience whilst delivering sustainable dividends and returns for our shareholders.\n \n \n \n \n \n We know that continued increases in the cost of living are impacting people, families and businesses across the UK and we have put in place a range of targeted measures to support those who are likely to need it most. Our strong levels of profitability and capital generation mean we are well positioned to provide this support.\n \n \n \n \n \n By building deeper relationships with our customers at every stage of their lives, we will deliver sustainable growth and help them to thrive in a challenging environment.\"\n \n \n \n \n \n \n Strong H1 2022 performance\n \n \n \n - \n \n H1 2022 attributable profit of £1,891 million and a return on tangible equity of 13.1%. The cost:income ratio was 58.3% in the first half compared with 67.6% in H1 2021. \n \n \n \n - \n Excluding notable items, income in the Go-forward group increased by £819 million, or 16.2%, compared with H1 2021 principally reflecting the impact of base rate increases and volume growth.\n \n \n - \n Bank net interest margin (NIM) of 2.72% was 26 basis poin...