NatWest shares plunge after bank downgrades profit outlook
by Kalyeena Makortoff Banking correspondent from on (#6FXDJ)
Competition for savers' cash is putting pressure on its finances, says group
NatWest has downgraded its profitability outlook and warned that competition for savers' cash is putting pressure on its finances, sending its shares plunging.
Investors were spooked by a predicted drop in the bank's net interest margin (NIM), which accounts for the difference between what is charged for mortgages and paid on savings and is a key measure of banks' profitability.
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