NWG Natwest

By Sabela Ojea

NatWest Group PLC reported on Friday operating pretax profit and revenue ahead of market expectations for the second quarter of 2022, and a stable set of operating expenses.

The U.K. bank posted an operating pretax profit of 1.40 billion pounds ($1.70 billion) compared with GBP1.56 billion for the same period a year earlier. Operating pretax profit had been expected to fall to GBP940 million, according to the lender's compiled consensus for the period.

The FTSE 100's total income rose to GBP3.21 billion from GBP2.66 billion for the same period a year earlier, compared with expectations of GBP2.90 billion, taken from the lender's compiled forecasts for the period.

NatWest's common equity Tier 1 ratio--a key measure of balance-sheet strength--fell to 14.3% from 15.2% as at March 31 and from an expected ratio of 15.1%.

The board declared an interim dividend of 3.5 pence a share, up 17% on 2021, and a special dividend with share consolidation of GBP1.75 billion, or 16.8 pence a share.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

July 29, 2022 02:40 ET (06:40 GMT)

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