LONDON (dpa-AFX) - NatWest Group plc (NWG, NWG.L), a British banking and insurance holding company, on Friday reported higher profit in its second quarter, driven by increased total income. The company also lifted fiscal 2026 outlook.
Further, the company announced an interim dividend of 12.0p per share, and that it will consider share-buybacks from full year 2026, six months earlier than previously planned.
Looking ahead for fiscal 2026, the company now expects total income excluding notable items to be around 17.9 billion pounds, including around 275 million pounds relating to Evelyn Partners.
The company previously expected income excluding notable items to be at the top end of its earlier guided range of 17.2 billion pounds to 17.6 billion pounds.
For fiscal 2028, the company continues to expect Return on Tangible Equity greater than 18 percent, and customer assets and liabilities to grow at a compound annual rate of greater than 4 percent from the end of 2025 to end of 2028.
In the second quarter, operating profit before tax climbed 29 percent to 2.285 billion pounds from last year's 1.773 billion pounds.
Profit attributable to ordinary shareholders was 1.603 billion pounds, up 29.7 percent from 1.236 billion pounds a year ago. Basic earnings per share grew to 20.1 pence from 15.3 pence a year ago.
Profit before impairment losses grew 23.3 percent year-over-year to 2.425 billion pounds.
Total income climbed 12.5 percent to 4.504 billion pounds from 4.005 billion pounds last year.
Net interest income grew 13 percent year-over-year to 3.496 billion pounds, and non-interest income increased 10.6 percent to 1.008 billion pounds.
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