Natwest Share Discussion Threads

[smithie6] 27/10/2023 10:26

..I disagree about where you think the share price headed, you said ~150p

...the numbers will always get you in the end

too cheap imo
..while the weak FTSE & weak USA mkts does not help the NWG share price

;-)

[xongkudu] 27/10/2023 10:23

I think the figures don’t or won’t justify it but sentiment is everything and I can see a steady drip down to 155 levels over next few weeks. Good luck if you buy now but I’d keep some back.

Rose was a disgrace. Presiding over a toxic Left wing bullying culture that is prevalent these days. She should be stripped of her bonus. Greed and misconduct at a high level.

[smithie6] 27/10/2023 10:08

I agree with you almost completely.

For normal more junior staff member, imo it would not be a sacking offence, just a ticking off. To sack a junior staff member would be too harsh imo
But for a director the standards to be met are much higher.
eg. should not bring the company in to disrepute I think, when disclosing opinions not authorized by the board. And comply with all banking regs including client privacy rules.

Most private info was kept private I think such as his account number, card number, transactions, balance etc etc.

[tim 3] 27/10/2023 10:05

smithie6

Then if what she did was illegal why are they giving her a £2.4 million, (possibly much more) pay off?

If it was a regular employee then surely that would have been gross misconduct and they would have got nothing?

[netcurtains] 27/10/2023 09:54

Yes it might be one of those falls that allow investors to catch the slow rise back up - an odd percent at a time.... And of course get any dividends...

One thing is for sure its not going under as its backed by HM Gov so that is one thing less to worry about compared to most companies.

[smithie6] 27/10/2023 09:45

tim3

"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!"

No, of course not, not legal. The report states that that was not correct & is a subject for the regulator. Any bank staff that broke regulations might be fined by the regulator, & the bank might possibly get a fine. But since the employee broke the bank's own rules it might be difficult/impossible to fine the bank (as long as the bank can show that it trains it's staff about the bank's rules including privacy rules).

('if' there were some penalty for the bank it would imo be negligible wrt the bank's profits.
This legal report will have cost more than any possible fine imo..A lot of noise about nothing, regards the shares, imo)

[smurfy2001] 27/10/2023 09:41

Good luck Crazi, i've been adding myself.

[ny boy] 27/10/2023 09:35

Just another blighty scam, U.K. is broken

[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

-----

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 !!

-------

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.