NatWest Reports Robust Financial Performance Amid Leadership Transition

British bank NatWest announced a significant surge in net profit for the fiscal year 2023, driven by higher interest rates, alongside the appointment of Paul Thwaite as permanent Chief Executive following recent boardroom changes.

NatWest revealed a remarkable 32 percent increase in profit after tax, reaching $5.5 billion, while revenue saw a commendable 12% rise.

NatWest’s recent history includes an independent probe in October, which identified “serious failings” in the handling of Farage’s banking affairs, triggering public scrutiny and debate. The bank, still 38% government-owned following a bailout in the aftermath of the 2008 financial crisis, remains under close observation regarding its governance and accountability.

Thwaite’s appointment marks a transition from Alison Rose, who resigned as CEO in July amidst boardroom upheaval following her acknowledgment of a “serious error of judgment” related to communication with a reporter concerning the banking affairs of prominent Brexiteer Nigel Farage.

Having previously served in an interim capacity, Thwaite expressed his gratitude for the opportunity to lead NatWest, emphasizing the bank’s critical role in serving its 19 million customers. He underscored a commitment to meeting evolving customer needs and expectations amidst rapid technological and societal changes.

Have you read?
European Union: Which countries drink the most alcohol?
Revealed: These Are Richest Countries In The World, 2024.
These are the countries with the highest and lowest disposable income in Europe 2024.
Revealed: Best Countries for Remote Working, 2024.
Revealed: The most (and least) corrupt countries in the world, 2024.

This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

Email Address*

Name