NatWest reports higher quarterly profit alongside job cuts

Business · First reported 30 Oct, 08:01 · Updated 08:37

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

NatWest reported £2.2 billion in operating pre-tax profit for the three months to September, while saying it had cut about 1,000 full-time roles in the quarter. The articles also describe £420 million in cost savings and about 2,200 employees joining through its acquisition of Evelyn Partners.

NatWest’s operating pre-tax profit was £2.2 billion for the three months to September, around 2% higher than a year earlier.
The bank cut about 1,000 full-time roles in the quarter, bringing job losses reported so far this year to 1,400.
NatWest said it achieved about £420 million in cost savings and reported net interest income of around £3.6 billion, nearly 9% higher year on year.
The acquisition of Evelyn Partners added around 2,200 staff to the group, according to the reports.

Summary written by Lux AI from 3 articles

Key facts

Operating pre-tax profit: £2.2 billion for the three months to September, around 2% higher year on year.
Net interest income: Around £3.6 billion, nearly 9% higher than a year earlier.
Job reductions: About 1,000 full-time roles in the quarter; 1,400 job losses reported so far this year.
Cost savings: Around £420 million.
Evelyn Partners acquisition: Added around 2,200 employees to the group.