Economic Indicators
NatWest profit rises even as threat from inflation mounts
2022.07.29 09:18
FILE PHOTO: People maintain social distance while they queue outside a Natwest bank in Wimbledon, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 1, 2020. REUTERS/Hannah McKay/File Photo
LONDON (Reuters) – NatWest reported better than expected profit for the first half of the year on Friday, as Bank of England rate hikes lifted its finances despite runaway inflation threatening to crunch Britain’s economy.
NatWest reported pre-tax profits of 2.6 billion pounds ($3.17 billion) for the six months to June, up slightly from 2.3 billion pounds the previous year and ahead of the 2.2 billion pounds average of analyst forecasts compiled by the bank.
($1 = 0.8204 pounds)
