NatWest Group PLC

NWG: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 195.00	Ghwv	Vtkv

NatWest Reports Good First-Quarter Results as Trading and Higher Rates Boost Performance

Niklas Kammer

Apr 29, 2022

NatWest reported first-quarter operating profits before tax of GBP 1,287 million, comfortably ahead of the GBP 976 million consensus figure collected by the group itself. Trading income performed better than expected and a small loan-loss reversal of GBP 7 million was also ahead of expectations for the quarter. We maintain our fair value estimate of GBX 230 per share.

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