Again, the quarterly results were impacted by heavy legacy charges while the underlying profitability remained on track with the group’s long-term objectives, albeit still supported by temporary provision recoveries. Full profitability normalisation has been delayed by one year to 2020 with 2017 hopefully the last loss-making year. However, management’s predictions remain strongly reliant on external factors, notably the final resolution of the US RMBS exposures.
24 Feb 2017
Full profitability normalisation delayed by one year
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Full profitability normalisation delayed by one year
NatWest Group Plc (NWG:LON) | 276 3.6 0.5% | Mkt Cap: 24,083m
- Published:
24 Feb 2017 -
Author:
David Grinsztajn -
Pages:
3
Again, the quarterly results were impacted by heavy legacy charges while the underlying profitability remained on track with the group’s long-term objectives, albeit still supported by temporary provision recoveries. Full profitability normalisation has been delayed by one year to 2020 with 2017 hopefully the last loss-making year. However, management’s predictions remain strongly reliant on external factors, notably the final resolution of the US RMBS exposures.