Future Of British Business
NatWest Shares Crater as Lower Margin Signals Rate Boom End
- Lender’s shares fall as much as 18% on third-quarter results
- Bank says customers on the lookout for better savings rates
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NatWest Group Plc’s shares plummeted after it cut its margin guidance, the latest UK lender to warn higher interest rates are stirring competition for deposits.
The bank reported a net interest margin of 2.94%, compared with 2.99% a year ago, and said the full-year figure was set to be above 3%, down from its previous expectations.