The British bank NatWest had to cut back on bad loans in the third quarter. The bank that had previously been known as Royal Bank of Scotland saw recovery in the third quarter and also made a profit.
With rising COVID and tougher measures in parts of the UK, NatWest’s CEO Alison Rose is facing ‘challenging times’. British government support measures for the COVID crisis are coming to an end this week, just as the measures are getting tougher again. The uncertainty about a Brexit deal also plays a part in the background.
In the last period, NatWest reserves GBP 254 million for loans that may not be repaid, which is considerably less than in the second quarter. For the whole of this year, the bank is planning to come closer to GBP 3.5 billion in provisions than GBP 4.5 billion.
NatWest’s operating profit came to 355 million pounds.