Alison Rose

This is an increase of £110 million, or 11.2%, from £976m for Q3 2021. Similarly to Bank of Scotland owner Lloyds’ outlook, the bank has predicted a fall in house prices in the next year of around 7% and has accordingly made provisions for higher loan defaults.  

Alison Rose, CEO of NatWest Group, said: “In a challenging environment, NatWest Group continues to deliver a strong financial performance; supporting our customers, responsibly growing our lending and making significant investments to transform the bank.

“At a time of increased economic uncertainty, we are acutely aware of the challenges that people, families and businesses are facing up and down the country. Although we are not yet seeing signs of heightened financial distress, we are very conscious of the growing concerns of our customers and we are closely monitoring any changes to their finances or behaviours.

“The bank’s strong capital and liquidity mean we are able to help those who are likely to need it the most, through support for our community partners, proactive outreach to our customers and targeted lending packages for the most impacted sectors.”