FWIW :- Keefe Bruyette & Woods raises Natwest to 'outperform' - price target 440 pence |
400p looks to be in reach! About time too! |
HMT have reduced from 15.9% to 14.8%. Kinda been wondering if they'd been selling down given some sell offs.
A directed buy back would be sweet. |
 UK government bonds extend sell-off after Reeves' first budget
UK government bonds extended their sell-off on Thursday as investors continued to mull the implications of the first Labour budget in 14 years.
In recent weeks, bond markets have had to digest fluctuating oil prices, changing Federal Reserve interest rate expectations and uncertainty about the looming US election result.
Now they are also digesting the sharp increase in government borrowing and expectations of Bank of England (BoE) interest rate cuts, forecast by the Office for Budget Responsibility (OBR).
While US Treasuries and German Bund prices also slipped, there was a larger decline in UK government bonds, also known as gilts. This in turn pushed up yields, or interest rates.
The yield on the 20-year gilt rose to its highest level since early November last year, at 4.855%, up five basis points. Meanwhile, the 10-year rate rose as much as nine basis points to 4.44%, the highest level in almost a year.
Yields also rose on short-dated bonds, which are more sensitive to the outlook for interest rates. The two-year gilt yield rose as much as seven basis points.
More |
Investing in the U.K. now is only for clowns and idiots Reeves. With the help of Diane abbot have destroyed the U.K. |
This released at 13:00 the time of the tank, I'd of thought that would have been a good thing.
It might be a thing that they do this just to get more peoples shares cheaper, its called tree shaking and see what apples fall |
Just look at the EPS plenty of dividend growth to come if NWG stick to their 40% payout ratio.
Plus they *MAY* do another directed buyback this year, for sure next year.
I continue to hold. |
When you think about it, why would they, they have shares and they need to get money out, it would probably cost them in profits the equiv they would gain so it would be a bum wrap for them.
interesting the P/E ratio on this, so low I dont know why the price isnt much higher with higher target prices.
The governments stake is now around 15% as well, not really a thing anymore. |
just hoping no levies on the banks today which was being talked about a couple of months back |
Nice upgrade |
FWIW :-
UBS raises NatWest price target to 460 (420) pence - 'buy'
JPMorgan raises NatWest price target to 430 (420) pence - 'overweight' |
IMHO Natwest should do another directed buy back ;) |
Gcom2 thanks will buy if they hit 359 |
Wonder if the gov were selling down on Friday, very disappointed with the performance |
Question , is nwg mixed up with the car fiancé cases |
Motor commission claims on banks and general worries about the budget.
Plus we’re not too hot at cricket!
Suet |
so why the wipe out of todays profits ? |
4*
Natwest followed Barclays lead yesterday and posted an impressive set of Q3 numbers. During the quarter the Group delivered attributable profit of £1,172 million which was up 35.2% over the year and a return on tangible equity (RoTE) of 18.3%. Net loans to customers excluding central items increased by £8.4 billion in the quarter and the CET1 ratio of 13.9% was 30 basis points higher than Q2 2024. Management used the solid performance to update FY24 guidance...
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/NWG/911 |
I know it's off topic but if Barclays trade at similar above nav prices that Lloy and Nwg do that £4.40 been banded around is achievable interesting times for our banks finally! |
Very nice indeed. New highs. |
NatWest raised its full-year income forecasts on Friday after a strong third quarter, in which profits jumped by more than a third. Profit for the three months ended 30 September totalled £924m, up 34.6% on last year, as total income rose 7.3% to £3.49bn. The banking group said it now expected to achieve a return on tangible equity above 15%, up one percentage point on previous guidance, while adjusted income should come in at £14.4bn, compared with an earlier forecast of £14bn. |
Q3 2024 performance
- Attributable profit of £1,172 million and a return on tangible equity (RoTE) of 18.3%.
- Total income excluding notable items(1) of £3,772 million was £182 million, or 5.1%, higher than Q2 2024 primarily reflecting lending and deposit growth and margin expansion. Net interest margin (NIM) of 2.18% was 8 basis points higher.
- Other operating expenses were £144 million lower than Q2 2024.
- Net impairment charge of £245 million or 25 basis points of gross customer loans. Levels of default remain at low levels across the portfolio.
- Net loans to customers excluding central items increased by £8.4 billion in the quarter, of which £2.3 billion was in relation to the Metro Bank mortgage portfolio acquisition, with strong growth across the three businesses, including a £1.4 billion increase in mortgage balances.
- Customer deposits excluding central items increased by £2.2 billion with growth across all three businesses driven by savings.
- The liquidity coverage ratio (LCR) of 148%, representing £52.7 billion headroom above 100% minimum requirement, decreased by 3 percentage points compared with Q2 2024.
- TNAV per share showed good growth in the quarter as the profit drove a 12 pence increase to 316 pence.
- Common Equity Tier 1 (CET1) ratio of 13.9% was 30 basis points higher than Q2 2024. Capital generation pre distributions was 57 basis points in the quarter and 197 basis points for the year to date. RWAs of £181.7 billion increased by £0.9 billion.
Q3 year to date performance
- Attributable profit of £3,271 million and a RoTE of 17.0%.
- Total income excluding notable items(1) of £10,776 million was £121 million, or 1.1%, lower than prior year. NIM was 2.11% for the year to date.
- Other operating expenses were £140 million higher than the same period of 2023, or £38 million (0.7%) higher excluding costs in relation to a retail share offering(2) of £24 million and additional bank levies of £78 million.
- Net impairment charge of £293 million or 10 basis points of gross customer loans and levels of default remain stable for the year to date.
- Net loans to customers excluding central items increased by £8.1 billion reflecting £6.2 billion of growth in Commercial & Institutional and £2.3 billion in respect of the Metro Bank mortgage portfolio acquisition.
- Customer deposits excluding central items increased by £8.3 billion, including £4.0 billion of growth in Retail Banking, £2.0 billion in Private Banking and £2.3 billion in Commercial & Institutional. |
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