Natwest Share Discussion Threads

[smithie6] 30/10/2023 11:13

Not sure if I agree ....since giving bonuses for the share price encourages dirs to issue rubbery accounts/RNSs & phps blue sky claims of future profits ..

....there do need to be better rules for bonuses, or any rules at all !!

Was it at Persimmon that there was a big scandal when the boss got tens of millions, & the fact that house & land prices were high & had risen & lots of demand had nothing to do with him !!

& then that boss left !!
Bonuses should tie any good director in to the company, not encourage them to leave !!

[eeza] 30/10/2023 10:45

Their pay needs tying to the share price so that their stupidity is properly reflected in their renumeration.

[eeza] 30/10/2023 10:43

Yes, Smithie, there would be no problem if they stuck to their knitting - but they can't.

[smithie6] 30/10/2023 10:31

..banks are reporting good results

Caixabank, Spain. 1st 9 months
Profit up 48%

NWG profit is also up nicely for the first 9 months. £2.3 bln to £3.3bln.

[smithie6] 30/10/2023 08:09

179p

Weak start to the day.

[smithie6] 29/10/2023 21:15

....I agree that the UK state system (& the public phps) has gone too far in its desire to be politically correct & to never make a decision that might upset any charity, or help group even if those groups might be acting against the interests of the UK (& in favour of illegal economic migrants).

----

In the USA because the politicians were also not willing to act & tackle the problems the society voted for Trump as President because he promised action. (His actions showed he wasn't a very nice guy & lacks/lacked many human values needed to be a good leader or President. And to have many bad characteristics such as lying, intentionally not paying correct taxes, bad treatment of women & to be ignorant about many world topics that affect USA.
But he still has a lot of fans because many ppl are tired of the state going too far to be politically correct & never take any decision or action unpopular with charities & far left NGOs.
UK is similar in many ways to the USA.

[tim 3] 29/10/2023 17:05

Yes of course you have to be careful with due diligence.

I use First Direct as my current account. I know its owned by HSBC but have found it to be excellent.

Unless you live in a big city you probably don't have access to a local branch and even if you do parking and very restrictive hours often make it less than ideal.

The rate they are closing most could be gone in the next decade.

[eeza] 29/10/2023 15:44

Yes, I have often thought that the Banks should be held liable for all losses incurred from transactions thro the Bank, because they have forced everyone onto on-line banking (by coercion, closing branches for their own benefit) and a lot of their customers are ill equipped to navigate the on-line processes. Scams have proliferated, and become evermore sophisticated, since the Banks started their forcing tactics, and many would not have happened had they not been online transactions. Many towns, and the vast majority of villages, have no Bank branches at all.

[smithie6] 29/10/2023 15:11

.. 'traditional banks'

hmmmm

But not everyone wants to do their banking via the new internet banks, Revolut, Wise etc.
A lot of people still like the option of being to go in to a bank branch in person to get help or advice with something or apply for a loan in person.
(While yes, traditional banks are reducing the number of branches that they provide in to cut costs).

Lots of financial on-line scams going on which puts some people off having an account with a bank that only exists in the cloud & whose main licence is perhaps in Letonia or Cyprus & not the UK.

[tim 3] 29/10/2023 13:33

Yep a drop in the ocean compared with the potential £11 million pay off she might get personally!

Totally agree they should be putting all their efforts into transforming the business and providing customers with what they demand and that is very different from how they operated before.

They can no longer rely on people just leaving their money with them because they always have.Nowadays its easy to shop round and get the best deal they also need to look at the customer service they offer speaking from experience and looking at reviews there is plenty of room for improvement.

Lots of work to be done and like other traditional banks I don't see the share price recovering quickly.

[smithie6] 29/10/2023 13:21

..with Alison Rose gone the NatWest Banking group can perhaps return to being a bank & stop it's drift towards being partly a NGO charity/venture.

imo it is the job of the state to receive taxes from businesses such as NWG & use them to support students & other sectors of society.

Example. the NWG gave £100k to help fund 500 students in a specific sector.

Completely irrelevant spend by NWG. And an irrelevant amount of money imo to give to the student sector which has a turnover in Europe of billions.
imo NWG only did it so that the dirs. (especially Alison Rose ?) could score some brownie points & personal kudos.

imo this bank should stick to banking & leave social services to be run by the Govt.

[polar fox] 29/10/2023 08:43

It also helps to have overdraft limits in place on all current accounts - up to a thousand or two. They can then be used as substitutes for credit balances and any early morning overdrafts can be quickly funded online from other sources, thus avoiding any interest/other charges.

[tim 3] 29/10/2023 08:18

jubberjim28 Oct '23 - 15:30 - 2665 of 2670

My thoughts exactly.

And after all the money she has cost the bank and its shareholders with no hint of an apology from her, the board are still considering whether to pay her around £11 million!

polar

Have done the same only keep bare minimum in current account why wouldn't you when you can get 5% instant access elsewhere.

[polar fox] 29/10/2023 08:14

Bloomberg:

Savers’ Search for Higher Rates Starts to Hurt Britain’s Banks


Current account balances have shrunk by $30 billion in 2023

Pricing pressure contributed to NatWest, Barclays outlook cuts


Britons are pulling more and more cash from bank accounts that don’t pay enough interest. It’s beginning to hit the UK’s biggest lenders where it hurts.

Retail customers at Barclays Plc, Lloyds Banking Group Plc and NatWest Group Plc have moved a combined £25 billion ($30.3 billion) out of current accounts since the beginning of the year. The drop contributed to NatWest and Barclays cutting their outlooks this week, prompting investors to knock more than 10% off each bank’s share price on earnings day.

More

I've done exactly this for the past year or so on my (several) current accounts, including the Nationwide as well, as their Flex pays only 0.25%.

[russ1983] 28/10/2023 22:51

Yep crazily cheap with div yield of 8.5% and p/e below 5, 30% discount to net asset value. But Barclays is even cheaper, it's net asset value is £3.16 and the share price 1.30! And has been like this for a long time

[superiorshares] 28/10/2023 17:30

It appears that SS chap was right .

[smurfy2001] 28/10/2023 16:45

The surprise is the amount of cash in non-interest bearing accounts.

[tim 3] 28/10/2023 16:33

Interesting that one of the issues is having to pay more interest on savings costing them profits.That issue is not going away when with a click of a mouse you can select the highest paying account that has FSCS protection.All the time and money spent on the Farage fiasco makes you wonder what else is going on.Seriously need to just focus on what they are there for providing banking services to customers without vetting the political preferences of their customers.Sell off looks overdone but be surprised if we get a quick rebound

[jubberjim] 28/10/2023 16:30

I just don t get why Alison Rose thinks she is entitled to any compensation

She broke one of the cardinal rules of banking

Summary dismissal and escorted of the premises as would be the normal course of events.

Just why has this procedure not been followed.

It was her own folly that led to this sorry state of events and her immediate superior all the way up the line should suffer the same fate

There is no excuse

She should not expect to be treated any differently from those members of staff who have been dismissed in the past for the self same actions.

It shows the Nat West Board to be weak both morally and financially and it is the ordinary shareholders who are suffering

So no more of this hand wringing woke nonsense.

[smurfy2001] 28/10/2023 16:12

Billions of shares have been bought back and there will be further directed buybacks and on market purchases to come.

This is stupidly cheap.

18p old money!

[arja] 28/10/2023 16:08

always surprising that the main clearing banks get any deposits with the miserable rate rate of interest they pay savers . Plenty other financial institutions pay much more .