BREAKING: NatWest profits surge as bank reels from Farage de-banking debacle
At the end of a week in which its chief executive Dame Alison Rose was forced to quit for her own role in the row, the bank revealed £3.6bn in pre-tax profits - up from the £2.6bn achieved in the same period last year as its bottom line was boosted by rising interest rates.
It made a further provision of more than £220m for bad loans in the tough economy but said it was currently seeing a low level of defaults due to higher mortgage and other borrowing costs. NatWest updated on its progress following two days of hits to its share price, resulting in £1bn of market value being lost - a reaction to its leadership being left in tatters over the Farage fallout.
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