NatWest Reports Record Profits for 2023, Announces Dividend Hike

NatWest Group's profits surged to £6.2 billion in 2023, marking its highest annual profit since the 2007 financial crisis.

NatWest Group's share price rose 5% as it announced a significant profit increase for 2023, with total income up 9.1% to £14.8 billion.
The bank's net interest income improved by 12.3% year-on-year, driven by a higher net interest margin.
A 26% increase in the full-year dividend to 17p per share was announced, despite a decrease in the Common Equity Tier 1 capital ratio.
Analysts predict low default rates through 2024, highlighting the resilience of NatWest's customers amid economic challenges.
The UK government is speculated to sell its remaining 35% stake in NatWest following the bank's strong performance.