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NatWest Plans Buyback After Reversing More Loan Provisions

  • British lender beat earnings forecasts in the second quarter
  • Bank now plans to pay out at least 1 billion pounds per year
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Natwest CEO on Earnings, Dividends, Hybrid Working
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NatWest Group Plc is reversing more of the provisions it took early in the Covid-19 pandemic as the British economy rebounds, helping it beat earnings forecasts in the second quarter and return cash to shareholders.

The U.K.’s biggest corporate lender posted an operating profit before tax of 1.6 billion pounds ($2.2 billion) in the second quarter, compared to a loss a year ago, as mortgage demand stayed high and Britons emerged from more than a year of lockdowns.