The group reported a strong but not yet sustainable set of results. The capital position improved markedly over the quarter and, unexpectedly, IFRS 9 is expected to give it a 30bp lift. Management reiterated its 2020 financial objectives. The major unknown remains the extent of the settlement with the DOJ on RMBS, while management does not expect further PPI-related provisions.
04 Aug 2017
Unexpected IFRS 9 boost
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Unexpected IFRS 9 boost
NatWest Group Plc (NWG:LON) | 265 6.6 1.0% | Mkt Cap: 23,185m
- Published:
04 Aug 2017 -
Author:
David Grinsztajn -
Pages:
2
The group reported a strong but not yet sustainable set of results. The capital position improved markedly over the quarter and, unexpectedly, IFRS 9 is expected to give it a 30bp lift. Management reiterated its 2020 financial objectives. The major unknown remains the extent of the settlement with the DOJ on RMBS, while management does not expect further PPI-related provisions.