Alison Rose

Attributable profit was up to £3.3bn for the year ended 31 December 2022 from £3bn for the previous period.

The bank also revealed that the bonus pool for its bankers is up to £367.5m from £298m. The bank has recommended a dividend of 10p per share and an £800m share buyback.

NatWest Group chief executive, Alison Rose, said: “NatWest Group delivered a strong performance in 2022. We made considerable progress against our strategic goals, maintained a well-balanced loan book and distributed significant capital to our shareholders, including the UK government.

“Despite not yet seeing significant signs of financial distress among our customers, we are acutely aware that many people and businesses are struggling right now and that many more are worried about what the future holds.

“Our robust balance sheet, responsible lending and continued capital generation allow us to proactively support those who need it, whilst helping others to get ahead of the challenges to come.

“As well as supporting our customers, this financial strength also allows us to continue investing in our business to meet their changing needs. By building long term relevance, trust and value through our purpose-led strategy, we will deliver sustainable returns and, ultimately, help to drive economic growth across the UK.”