HomeNewsNewsNatWest reports pre-tax operating profit of £1.1bn | Business News

NatWest reports pre-tax operating profit of £1.1bn | Business News

NatWest has reported a pre-tax operating profit of £1.1bn in the third financial quarter.

The profit for the months July to September was better than the £677m average of analyst forecasts and was also up from £355m a year ago.

It comes despite a £294m litigation and conduct charge for the quarter – which includes provisions for an anticipated fine after the bank pleaded guilty earlier this month to failing to prevent the laundering of £365m.

Chief Executive, Alison Rose, said: “Throughout Q3, NatWest continued to deliver a strong operating performance; growing in key areas and accelerating our digital transformation to improve customer experience and make our business more efficient.

“Our robust capital position means that we have been able to buy back around £402m of our shares, whilst also investing for growth as we support our customers and drive sustainable returns to our shareholders.

“Although we are…

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