1h ago
06.49 BST
Introduction: NatWest to report financial results
Good
morning, and welcome to our rolling coverage of business, the financial markets
and the world economy.
NatWest
faces another day in the spotlight as the British bank reveals how it performed
in the last quarter, and faces ongoing scrutiny over its treatment of former UK
Independence party leader Nigel Farage.
NatWest is
due to release its financial results at 7am. City analysts predict it will post
an operating pretax profit of £1.49bn for the second quarter of 2023.
That would
take earnings so far this year up to £3.3bn, up from £2.6bn in the same period
last year.
NatWest,
which has lost its CEO Alison Rose and the head of Coutts, Peter Flavel, in the
last two days, may try to restore a sense of order as it updates investors
about its performance.
Flavel quit
yesterday, admitting that Coutts had “fallen below the bank’s high standards of
personal service” in the way it handled Farage’s case.
But
pressure continues to build on chairman Howard Davies; yesterday, Rishi Sunak
offered some rather lukewarm words when asked if he backed Davies.
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