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FINANCIALS: NatWest: Buying GBP2.5bn Mortgage Book, Immaterially Small

FINANCIALS

NatWest (NWG: A3/BBB+/A) results are 26-Jun. Spreads have performed well since last time, margin performance was good and peer indications have been solid (so far). Expectations are relatively high, but the outlook also appears fairly benign, we feel.

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