NatWest £6.2bln profit for 2023
While full-year earnings topped market forecasts at £6.2bln, estimates had been £5.1bln for the year, fourth quarter also beat at £1.26bln.
NatWest also announced a final dividend of 11.5 pence per share and a share buyback of £300mln. It has been a difficult year for the bank after the abrupt departure of Alison Rose following the so-called de-banking saga with Nigel Farage, but it has confirmed Paul Thwaite as its permanent chief executive. Now comes the gearing up for the sale of state-owned stock in the company back to the market.
(AI Video Summary)
NatWest
NatWest, a UK bank, just released their fourth-quarter results and they've done really well! They made £1.26 billion in profit before taxes, which is even better than what experts predicted (they thought it would be in the billions though). This is exciting news because NatWest had a tough year dealing with some scandals. Now, they want to sell some of their company's shares to the public, which means regular people like you and me can buy a piece of the bank.
NatWest's profits
For the whole year, NatWest made a total profit of £6.2 billion before taxes, which is higher than what they made the previous year. To celebrate their success, they're giving away some of that money to their shareholders in the form of a final dividend payment of 11.5 pence per share. They also have a plan to buy back some of their own shares, which shows they have confidence in their future.
Even though NatWest did really well, their stock price went down a tiny bit when trading started today. Some people are probably just selling their shares to secure their profits after the stock went up recently. But don't worry, it's possible that the price might go up again later in the day. Overall, NatWest did much better than everyone expected, and things are looking bright for them. With a new chief executive in charge, they are set to have an even better year ahead.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
