NatWest Group PLC 

NatWest Group PLC (LSE: NWG) is an FTSE 100 Index-listed financial services company with operations in personal banking and commercial banking

FY23 Results (Released on 16 February 2024)

• Improved Financial Performance: The company reported an increase of 9.8% in the total income which stood at GBP 14.3 bn in FY23, due to the favorable yield curve movement and higher income in the markets and lending growth which was partially reduced by the deposit balances and lending margin pressure.
• Profitability: The operating profit before taxes increased to GBP 6.17 bn in the reported period (FY23) as compared to the operating profit before taxes of GBP 5.12 bn in pcp. Further, the Return on tangible equity increased to 17.8% in FY23 versus 12.3%in pcp.
• Dividend Declaration: The management announced the final dividend of GBX 11.5 per share which will be paid on 29 April 2024. Also, the management announced a share buy back of GBP 300 million for FY24.
• Outlook: The management is expecting the net income to be between GBP 13.0 bn and 13.5 bn and CET1 ratio in the range of 13% to 14% in FY24. Further, the group estimated the Return on tangible equity to be approx 12% and the loan impairment rate to be below 20 basis points. capital generation to be close to 175 basis points, in FY23.

Share Price Chart

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NatWest Group PLC (LSE: NWG) was trading at the current market price of GBX 230.90 (as of 21 February 2024, 09:50 AM GMT)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 21 February 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.