NatWest Group PLC (NWG) Q3 2023 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Natwest Group Plc.

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Replay transcript excerpt

WEBVTT 00:00:00.925 -- 00:00:04.709 Good morning and thank you for joining us for the first set of results since becoming 00:00:04.709 -- 00:00:09.193 CEO. I'm going to start with the financial headlines and my near-term priorities for 00:00:09.193 -- 00:00:14.118 the business. Then Katie will run you through the quarter three results in greater detail. 00:00:14.118 -- 00:00:17.462 And after that, we'll open it up for questions. 00:00:17.462 -- 00:00:20.505 Our customers and communities are central to our strategy. 00:00:20.505 -- 00:00:25.250 So I'd like to begin by putting the financial headlines in the context of recent customer 00:00:25.250 -- 00:00:26.731 activity. 00:00:26.731 -- 00:00:32.447 During the first nine months of this year, We have lent over 8 billion into the UK economy, 00:00:32.447 -- 00:00:38.132 opened over 80,000 new business startup accounts, helped 312,000 00:00:38.132 -- 00:00:43.236 customers buy or refinance their homes, and opened over 1 million savings 00:00:43.236 -- 00:00:47.600 accounts alongside around 800,000 current accounts. 00:00:47.600 -- 00:00:52.545 In addition, we have delivered over 53 billion of climate and sustainable funding and 00:00:52.545 -- 00:00:56.646 financing since July 2021. Turning 00:00:56.928 -- 00:01:02.232 now to the financial headlines, We delivered operating profits of 4.9 billion 00:01:02.232 -- 00:01:07.500 for the first nine months, which is up 33% on the prior year, with attributable 00:01:07.500 -- 00:01:12.728 profits of 3.2 billion. Income was 10.9 billion 00:01:12.728 -- 00:01:19.079 and costs were 5.6 billion. Our cost-income ratio was just under 50%, 00:01:19.079 -- 00:01:24.047 with some benefit from foreign exchange gains, and we are on track to meet our cost target 00:01:24.047 -- 00:01:27.308...