NatWest on the rise in face of losses

FTSE 100 bank NatWest (LON:NWG) watched its share price increase by 5.51% to 123.60p (as of 12:30 BST) despite booking a pre-tax operating loss for the nine months ended 30th September. Retail and commercial income were both down relative to the same period of 2019.

CEO Alison Rose commented: “Although impairments were relatively low in the quarter and we have seen some positive trends across our customer base, the full impact of Covid-19 remains very unclear. Challenging times lie ahead, especially as the current government support schemes come to an end and as new Covid-19 related restrictions are introduced.

“We continue to deliver well against our strategy, building a bank that champions potential and has the capability to grow. By building deeper relationships with our customers at every stage of their lives, simplifying the bank further, investing in innovation and partnerships and allocating capital well, we will deliver sustainable returns to our shareholders.”