City Of London
NatWest Shares Drop as Lender Warns on Costs and UK Economy
- Costs, impairments to rise next year as UK inflation bites
- Operating profit of £1.1 billion knocked by loan charge
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NatWest Group Plc missed estimates in the third quarter as it took bigger than expected charges for souring loans and warned of further gloom to come.
The UK’s biggest corporate lender reported operating profit before tax of £1.086 billion ($1.26 billion) on Friday, below analyst estimates compiled by Bloomberg.