Strong Lending Growth
Lending has grown 4.4% since the year-end to GBP 388 billion. Mortgage lending increased by more than GBP 5 billion in the first 9 months. Unsecured lending grew GBP 2.9 billion or 17.3%, and commercial and institutional lending grew GBP 7.9 billion or 5.5%.
Robust Income and Profit Growth
Income grew to GBP 12.1 billion, 12.5% higher than the first 9 months last year. Operating profit was GBP 5.8 billion with an attributable profit of GBP 4.1 billion. Return on tangible equity was 19.5%.
Increased Customer Base and Engagement
Attracted 70,000 new customers in the quarter. Significant progress in integrating Sainsbury's customers, enhancing customer engagement through the NatWest app.
Capital and Shareholder Returns
CET1 ratio of 14.2% with a new share buyback of GBP 750 million announced, half of which has been completed. Earnings per share increased by 32.4% year-on-year.
Improved Cost Efficiency
Cost/income ratio decreased by 5 percentage points to 47.8%. Operating expenses grew slightly by 1% due to integration costs, but overall cost management was effective.