NatWest Group PLC (NWG) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.892 Good morning and welcome to NatWest Group's H1 2026 results management presentation. 00:00:05.892 -- 00:00:10.913 Today's presentation will be hosted by CEO Paul Thwaite and CFO Katie 00:00:10.913 -- 00:00:15.294 Murray. After the presentation, we will take questions. 00:00:18.315 -- 00:00:21.595 Good morning, everyone, and thank you for joining us. 00:00:21.595 -- 00:00:26.256 Our results today show how we've created a bank with increasing momentum through our 00:00:26.256 -- 00:00:29.700 focus on sustainable growth and returns. 00:00:29.700 -- 00:00:34.802 By delivering growth across all three businesses, improving operating leverage and 00:00:34.802 -- 00:00:39.804 managing our capital and risk, we have created the most efficient large UK bank 00:00:39.804 -- 00:00:44.606 with the lowest cost of risk, delivering the strongest capital generation and highest 00:00:44.606 -- 00:00:46.606 returns. 00:00:46.867 -- 00:00:52.190 Our ambition for the future is founded on the strengths we've created and the opportunities 00:00:52.190 -- 00:00:54.031 we see ahead. 00:00:54.031 -- 00:00:59.654 The UK's next phase of growth will be shaped by a handful of defining trends, 00:00:59.654 -- 00:01:04.636 so we have built leadership positions in areas that will drive the next decade, such 00:01:04.636 -- 00:01:08.705 as wealth, AI and infrastructure. 00:01:08.705 -- 00:01:14.967 Our performance makes clear we have the capability and capacity to grow at scale. 00:01:14.967 -- 00:01:21.088 So we're seizing the opportunity to maximise our position as a trusted partner for customers 00:01:21.088 -- 00:01:25.229 and to help stimulate growth across the UK. 00:01:25.229 -- 00:01:30.390 In February, we set out how we plan to deliver our 2028 targets by 0...