NatWest and Barclays Surpass Profit Expectations Amid Strategic Shifts

Both UK banks report significant earnings growth driven by increased lending, cost-cutting, and strategic acquisitions.

NatWest reported a 25.7% increase in pre-tax profits for the third quarter, reaching £1.7 billion, exceeding analyst predictions.
The bank's growth was fueled by an £8 billion rise in mortgage lending and a £2.2 billion increase in customer deposits.
Barclays posted an 18% rise in pre-tax profits, driven by strong performance in UK retail and investment banking divisions.
Barclays' strategic focus includes cost-cutting measures and the acquisition of Tesco Bank, set to be completed soon.
Both banks are adjusting their strategies amid falling interest rates, with NatWest lowering business expenses and Barclays enhancing shareholder returns.