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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessFINANCIALS: NatWest Results Positive, Guidance Upgrades, Spread Supportive
NatWest (NWG: A3/BBB+/A) 2Q24 headlines look positive with a net income and loan loss beat, improvements to guidance on loan losses, income and returns for FY24, and CET1 ratio is 13.6%, fully 50bp higher than consensus. Spreads had only been small outperformers on the way into these results so could tighten further today, in our view.
- “*NATWEST 2Q NET INCOME GBP1.18B, EST. GBP846.6M
- *NATWEST SEES FY LOAN-LOSS RATE BELOW 0.15%, SAW BELOW 0.2%
- *NATWEST SEES FY ROTE ABOVE +14%, SAW ABOUT +12%, EST. +13.5%
- *NATWEST 2Q NET INTEREST INCOME GBP2.76B, EST. GBP2.62B
- *METRO BANK SALE OF £2.5B RESIDENTIAL MORTGAGE TO NATWEST GROUP
- *NATWEST SEES FY INCOME EX-ITEMS GBP14B [consensus: 13.8bn]” - BBG
Conf call is 0900 (London time) at: https://natwest-events.zoom.us/webinar/register/WN_nzF_gk4OSf2DnkGv7uFG8Q#/registration
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.