Natwest Share Discussion Threads

[crazi] 23/12/2020 14:01

Sterling surges on report that Brexit deal "pretty much there"

Wed 23 Dec 2020 13:58:53 GMTAuthor: Adam Button | Category: News

Cable jumps to the upside

[johnwise] 23/12/2020 08:07

While the Communist China Weapon of Mass Destruction Virus Bankrupts Western Economies..

China's GDP projected to grow 7.9% in 2021, as recovery accelerates: World Bank

[crazi] 22/12/2020 12:39

Yet the EU has a briefing at 4pm. The usual automatic rejection and then we will go discuss it. They will huff and puff and say talks must go on and the Germans will start sticking in the boot and tell those coastal states to get a grip...not a bad offer... Then you have Boris arranging next week already! Laughed at the last line... When will they realise this is 100% deliberate timing!!



Government lines up key dates next week for Brexit vote
Jonathon Read

Published: 11:01 AM December 22, 2020 Updated: 11:10 AM December 22, 2020
Boris Johnson in the House of Commons - Credit: Parliament Live

The government has reportedly planned to recall MPs to the House of Commons next week to vote on a possible deal between Westminster and Brussels over Brexit.

MPs must be given at least 48 hours notice before returning to parliament, with the government unlikely to recall politicians over the festive period, even if a deal is imminent.

The Telegraph reports next Wednesday and Thursday (December 30 and 31) have been lined up for a possible vote - hours before the transition period ends at 11pm on Thursday.

Government sources have said that a bill is expected to be drafted within 48 hours of a deal, with a vote put to the Commons and Lords, and secondary legislation passed the following day.

A government source told the newspaper: "Is it good form this side of Christmas, doing it so late?

"MPs would like to read the thing first.

[polar fox] 22/12/2020 12:31

Bloomberg is reporting that the EU has rebuffed the buffoon's 'offer' as above. But back and forth is what negotiation is all about...

[netcurtains] 22/12/2020 09:50

According to EU sources, the British demand for a 60% reduction in the catch by value in British waters had been reduced to 35%, far closer to the 25% reduction that Frost’s EU counterpart, Michel Barnier, had said he would be prepared to accept.

[crazi] 22/12/2020 09:38

Brexit Deal is coming imho... be holding when that happens.

Analysts will also UP their projections with the Loan book purchase from MTRO. That was MTRO's jewel asset...

[crazi] 22/12/2020 05:47

Frost set to BACK DOWN on fishing demands - Britain on brink of Brexit deal with EU
BRITISH negotiators could be on the verge of reaching an agreement in the row over post-Brexit fishing rights.

By JOE BARNES, BRUSSELS CORRESPONDENT
PUBLISHED: 00:00, Tue, Dec 22, 2020 | UPDATED: 00:06, Tue, Dec 22, 2020

[crazi] 22/12/2020 05:43

No 10 fishing offer to EU raises hopes of Brexit deal before Christmas
UK negotiators reduce demand for EU catch reduction, potentially unlocking sticking point in talks

Downing Street has made a major counter-offer on fishing access for EU fleets in British waters to break the Brexit trade talks deadlock, raising hopes of a deal before Christmas.

After a difficult period of negotiations, with both sides seemingly entrenched, the UK’s chief Brexit negotiator, David Frost, is understood to have tabled a proposal that could unlock the troubled talks.

According to EU sources, the British demand for a 60% reduction in the catch by value in British waters had been reduced to 35%, far closer to the 25% reduction that Frost’s EU counterpart, Michel Barnier, had said he would be prepared to accept.

Boris Johnson has also accepted a five-year phase-in period for the new arrangements, with a compromise also likely on the application of tariffs or export bans on goods where fishing access changes after the phase-in period, it is understood.

more...

[johnwise] 21/12/2020 23:25

Come on all you deniers - young healthy fit people suffering - whats your explanation?

Newcastle stars Jamaal Lascelles and Allan Saint-Maximin are suffering from long Covid and struggling to walk and have sores and mouth ulcers as Steve Bruce fears for their long-term health

[johnwise] 21/12/2020 23:18

VIDEO

Senator Lankford Stands with Americans Right to Verify US Election Results

[crazi] 21/12/2020 19:26

Very good article on Brexit - worth a read...

[crazi] 21/12/2020 12:50

PMSL.... :-)

[ashbox] 21/12/2020 12:47

Yes, buy fresh produce now in case its not available in 10 days time. Broccoli, cabbage and spinach etc. always tastes better when its 8 days past its sell by date.

[polar fox] 21/12/2020 11:32

They should flap their wings down to the supermarket! Very busy this morning, despite the rain, and fresh produce is rapidly being scooped up on the assumption that shortages are to come - I've previously warned of this (from January), but events have brought things forward by a couple of weeks.

[largeronald] 21/12/2020 11:07

Brexiteer turkeys flapped their wings with glee at news of Kent being turned into a giant lorry park. "We've waited patiently for 4½ years and now Christmas has come early for us" crowed one jubilant fowl.

[johnwise] 21/12/2020 08:36

This new virus strain is not exclusive to the UK only. It is out there across Europe, It would explain the high rapid rates in Sweden/Germany . These two countries were doing ok until a few weeks ago. would explain the speed of the infection and why those two countries rates shot up so quickly. The UK is the only one to confirm this new strain (UK is a leader in Genomics/disease mutation research). Other nations are looking to blame someone for the rise in infections, to deflect from their own mismanagement of the virus within their own borders. However, we must not forget where this virus originated from, China!

[netcurtains] 21/12/2020 08:16

johnwise: "continued Marxist doctrine and political correctness" - That is something to look forward too, its horrible to think of people sleeping in the streets and others being billionaires. There is no way I could be a billionaire while others were sleeping rough on the streets - its an inhuman concept... billionaires must be lizards.

And Political Correctness is great too - these boards are full of really foul language and they would be much better if people were polite!

John, a good tip for you, try and see the flip side of the coin, you'll be pleased you did.

Nat West - the peoples bank! The bank that likes to say "yes" the bank that smiles.... The bank that Mary Poppins would approve of! Nat West is the Magic Money Tree.

[johnwise] 21/12/2020 08:08

What have people got to look forward to? After a lonely, dull Christmas
whats in store in 2021 and beyond looks worse-more lockdowns, continued mask wearing, coerced vaccinations, increased taxation, police state, democracy going, more money printing, negative interest rates, inflation, mass unemployment, businesses devastated, jobs gone, continued Marxist doctrine and political correctness, people living in poverty, homelessness, climate change scam, global communism, the government still sucking up to Communist China...Weapons of mass destruction spread by China..

[crazi] 21/12/2020 07:12

NS Number : 2420J

NatWest Group plc

21 December 2020

18 December 2020

NatWest Group plc

NatWest announces acquisition of mortgage portfolio from Metro Bank

NatWest Group plc ("NatWest") today announces that it has entered into an agreement with Metro Bank plc ("Metro Bank") to acquire a GBP3.0 billion portfolio of prime UK mortgages. The portfolio consists of owner occupied residential mortgages with a weighted average current loan to value of c.60%.

As part of the transaction, NatWest will welcome over 13,000 customers who will continue to be serviced by Metro Bank, in accordance with current arrangements, following the transfer to NatWest.

The purchase price of c.GBP3.1 billion represents a 2.7 per cent premium on gross book value(1) . The impact of the transaction, based on NatWest's CET1 ratio at 30 September 2020, equates to a reduction of around 15 basis points(2) .

Commenting on the transaction, Alison Rose, CEO of NatWest said,

"Growing our mortgage book is an important strategic priority as we build a bank that delivers sustainable returns for shareholders. The addition of this loan book will supplement the strong organic growth that we continue to achieve.

"Our strong capital position, well above the target range, continues to provide the flexibility to navigate the uncertain environment and support our customers during the challenging times ahead."

1. There may be an adjustment to the financial impact and consideration paid at completion under which loans representing up to 10% by value of the portfolio may be excluded from the sale, equal to a potential reduction in price of c.GBP0.3 billion. NatWest has full economic benefit of the portfolio and the transaction will be reflected in Q4 2020 results. The transaction is expected to close during the first quarter of 2021.

2. NatWest reported a Common Equity Tier 1 (CET1) ratio of 18.2% at 30 September 2020.

[polar fox] 19/12/2020 20:03

This is an excerpt from the FT in Sept.2019:


Lloyds Banking Group has agreed to buy Tesco Bank’s mortgage book in a £3.8bn deal, after a vicious price war led the latter to abandon the mortgage market.

Lloyds will pay a 2.5 per cent premium compared with the loans’ outstanding book value, with Tesco’s 23,000 customers transferring to Lloyds subsidiary Halifax. 

Vim Maru, Lloyds director of retail, said: “This is a good deal for the group, our shareholders and Tesco’s mortgage customers. We believe our Halifax brand will make a good home for these customers and we look forward to welcoming them to the group.” 

unquote

[crazi] 19/12/2020 17:05

MTRO only sold the mortgages as they had to shore up capital to meet MREL requirements. They made a good decision to sell rather than capital raise. So a good deal for both companies... imho