Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessment
NatWest said the economic fallout from the conflict in the Middle East could cost it £140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.
Overall, the FTSE 100 lender booked a £283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to “reflect increased geopolitical risk and weaker equity markets”.
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This article was originally published by The Guardian and written by Mark Sweney.
Read original article on The Guardian