Natwest Share Discussion Threads

[tim 3] 27/10/2023 09:32

So is a bank employee discussing a customers financial affairs with a journalist legal?

If so handy to know that bank staff can legally discuss our private financial affairs in public with whoever they want!

[smithie6] 27/10/2023 09:22

Btw
Share buybacks
....are those from the Govt holding & hence reducing the % held by the Govt bit by bit ??

With the high profits some serious share buybacks could happen.

[pulsey] 27/10/2023 09:15

Market Caps are often driven by sentiment short term (Warren Buffet's 'voting machine') and I think NWG is one that is suffering from an overdose of negative sentiment that is driving this price down.

I bought a small tranche a couple of weeks ago after it got hit by Barclays' (I think) Results.

I've waded in today with a normal size (for me) purchase at £1.76

Faragegate will blow over, it's still very profitable. It has a t/o of £14B, Profit £4B. MCap of just £20B - Really?

Government stake much reduced (38, down from 84%), this could easily be a takeover target with the Predator paying at least the £2.68 that was achieved by the last tranche sale in May. I'm sure the Government would welcome the cash injection.

[smithie6] 27/10/2023 09:09

185p now

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That buy note this morning from Smithie6 Capital Markets was perhaps spot on.

[misterd1] 27/10/2023 09:08

Maxk - agreed

Another British stitch up to save face.

Imo Rose should not be paid a penny on departure and any bonuses/LTIP's etc clawed back

[smithie6] 27/10/2023 09:06

Bounce back is underway.

Profit in first 9 months £3.4 bln versus £2.4 bln in '22. Looks good to me.
p/e is very low

[smithie6] 27/10/2023 09:04

..'dishonest'

I don't think so.

His balance was way below the minimum at Coutts, so imo it wasn't at all dishonest to close his account. It broke rules to reveal some private info. Revealing the reason for closing his account, well, they probably are not allowed to reveal that to the public.

[maxk] 27/10/2023 09:03

Laughable..



Yet the Travers Smith report states: “For the avoidance of doubt, Travers Smith do not consider there to be any evidence that the client’s pro-Brexit stance, or his party-political affiliations, were factors in the exit decision.”

[careful] 27/10/2023 09:03

I would have thought that dumping Farage and being attacked by the hapless Ian Duncan Smith would be good for business.

Hard to read the markets these days.

[markingtime] 27/10/2023 08:57

"Legal" .....possibly."Dishonest" - certainly! Not a good look for a bank!

[smithie6] 27/10/2023 08:57

...they mentioned that some wrong doing did happen but that that it is a subject for the regulator.

It was a mess up....Coutts were entitled to close Mr Farage's account since his balance did not meet their rules.
But they broke rules by revealing info to the public domain. They probably should just have said no comment.
If Farage revealed his private info that is up to him but a bank can't reveal anything.

Impact on NWG ?

Zero imo !!

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Did this legal review perhaps cost say £1-5 million ??
Would have been better to pay say £100k to Farage as compensation with the agreement that withdraw complaint & subject closed.
NWG would have saved a few million phps.

[smurfy2001] 27/10/2023 08:56

Opens at 16.8p old money. UK stock market is broken.

[ny boy] 27/10/2023 08:54

Another blighty scam

[misterd1] 27/10/2023 08:50

The law firm said that debanking him was legal

Did they comment on the wrong doings of rose and all the other people involved?

Scandalous imo

[craftyale] 27/10/2023 08:40

Woke Britain is a disgrace. Glad Farage said No. A word most people are too cowardly to say these days.

[rock star] 27/10/2023 08:25

They don’t deserve to be in existence after all the wokery pokery.

A City analyst said to me after the GFC forget about RBS as an investment. It is Government owned and effectively a bank in administration.

How right he was.

£66 to sub £2 tells it all.

[johnwise] 27/10/2023 08:07

NatWest misses profit forecasts, admits "serious failings" in Farage treatment

NatWest on Friday missed expectations slightly with its third-quarter results despite a 33% rise in profits, while its bank net interest margin and capital holdings both fell.

[martym] 27/10/2023 08:01

In auction never a good sign

[polar fox] 27/10/2023 07:45

ADD:

NatWest was thrown into crisis after a decision by its private bank Coutts to cut Farage as a client earlier this year led to a political backlash and ultimately cost former CEO Alison Rose her job.

The bank on Friday separately published the initial findings of a review by law firm Travers Smith into a decision by Coutts to cut Farage as a customer. It said the review found shortcomings but decided the move was lawful.

The turmoil comes at a tricky time, as the wider banking industry grapples with a tough economic outlook, a higher risk of loan defaults in a cost of living crisis, and margin pressure from fiercer competition for savings and mortgage products.

NatWest's net interest margin (NIM) - a key measure of lending profitability - came in at 2.94%, down 0.19 percentage points as customers shifted savings from non-interest bearing savings accounts to those that paid out more.

As a result the lender downgraded its margin forecast for the full year, "greater than 3%" from a previous view of around 3.15%.

unquote

[polar fox] 27/10/2023 07:21

While the profit numbers look OK, I don't think the market is going to like the NIM comments one little bit - my post on Wednesday was spot on, the one where I detailed them paying 5.9% on 2-yr ISAs. On balance, I fear the share price may drop below 200p.

[action] 27/10/2023 07:18

NIM 2.9. Down.

[xongkudu] 26/10/2023 15:31

Yep. Agreed Tim. It sends out the wrong message that there’s one rule for the ordinary workers and another for the ‘elite’

If anything CEO’s should be sanctioned more severally due to their positions of power and influence but as always power and money collide to create a sick unfair world.

[tim 3] 26/10/2023 13:33

I know it's unbelievable if a regular employee discussed personal details of a customer with the press then pretty sure that would be classed as gross misconduct and they would be sacked yet they want to pay her millionsIncredible

[misterd1] 26/10/2023 13:11

How can Rose get away with that?

Disgraceful imo