NatWest Group PLC (XAMS:RBS)

€ 4.93 0 (0%) Market Cap: 56.60 Bil Enterprise Value: -62.56 Bil PE Ratio: 7.62 PB Ratio: 0.85 GF Score: 65/100

Half Year 2022 Natwest Group PLC Earnings Call Transcript

Jul 29, 2022 / 08:30AM GMT

Transcript

Operator

Good morning, and welcome to the NatWest Group H1 Results 2022 management presentation. Today's presentation will be hosted by CEO, Alison Rose; and CFO, Katie Murray. After the presentation, we will open up for questions. Alison, please go ahead.

Alison Marie Rose;Slade

NatWest Group plc - Group CEO & Executive Director

Good morning, and thank you for joining us today. I'm joined by our Group CFO, Katie Murray this morning, and I'll start with the business update before Katie takes you through the results. We'll then open it up for questions. So let's start with the headlines on Slide 3. We're announcing a strong first half performance today with operating profit before tax of GBP 2.8 billion, up 12.8% on the first half last year. And attributable profit of GBP 1.9 billion. Our return on tangible equity was 13.1%, up from 11.7%. We're reporting strong income growth of 16.2% and costs were down 1.5%, resulting in positive jaws of 17.7%. We continue to target a reduction in costs of around 3% for the year and remain on track to deliver that.

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