NatWest Group PLC (NYSE:NWG)

$ 10.24 -0.01 (-0.1%) Market Cap: 41.16 Bil Enterprise Value: -82.86 Bil PE Ratio: 7.70 PB Ratio: 0.86 GF Score: 73/100

Half Year 2020 Natwest Group PLC Earnings Call Transcript

Jul 31, 2020 / 08:00AM GMT

Release Date Price: $2.97 (-1.08%)

Transcript

Operator

Welcome, everyone. We will now play a prerecorded audio presentation of our H1 results. This will be followed by a live Q&A session with Howard Davies, Alison Rose and Katie Murray.

Alison Marie Rose;Slade

NatWest Group plc - Executive Director & Group CEO

Good morning, everyone. Thank you for joining us today for our first half results presentation. Our agenda for the call is follows. I will start with the first half headlines and update you on how we have been managing the business through the COVID-19 pandemic, the progress we have made on our strategic priorities during the first half and then Katie will take you through the numbers in more detail before I wrap up and we open it up for questions.

So let me start with the headlines. As you know, we had a strong start to the year before the impact of COVID-19 and our preimpairment operating profit for the first half was GBP 2.1 billion. Since we spoke in May, however, the economic outlook has worsened. And as a result, we are announcing a first half net impairment charge of

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