
LONDON (dpa-AFX) - NatWest Group Plc (NWG.L, NWG), a British banking and insurance holding company, on Friday reported a sequential rise in its first-quarter earnings, helped by improved total income and a decline in operating expenses. The earnings were also underpinned by continued growth across the company's businesses.
For the three-month period to March 31, the Group posted a net income of 1.252 billion pounds, or 15.5 pence per basic share, higher than 1.248 billion pounds, or 15.3 pence per basic share, recorded for the quarter ended on December 31, 2024.
Profit from continuing operations was 1.341 billion pounds, higher than 1.259 billion pounds a quarter ago. Profit from discontinued operations stood at 0 pounds as against 69 million pounds in the previous quarter.
Operating profit before tax stood at 1.812 billion pounds, compared with last quarter's 1.492 billion pounds. Operating expenses slipped to 1.979 billion pounds from the prior quarter's 2.267 billion pounds.
Total income was 3.980 billion pounds, up from the last quarter's 3.825 billion pounds. Net interest income stood at 3.026 billion pounds, higher than 2.968 billion pounds a quarter ago. Noninterest income moved up to 954 million pounds from 857 million pounds in the previous quarter.
Total income excluding notable items was 3.952 billion pounds, up 80 million pounds from the fourth-quarter of 2024. This is due to deposit margin expansion and increased trading income.
Looking ahead, for the full year, excluding notable items, the Group now expects income to be at the upper end of its previously guided range of 15.2 billion pounds to 15.7 billion pounds.
In addition, the company said that it aims to pay dividends of around 50 percent of net profit from 2025 and will consider share buybacks as appropriate.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News