NatWest profits soar by 36% as full privatisation looms
by Mark Sweney from World news | The Guardian on (#6X0TP)
Government stake reduced to less than 2% while bank's profit of 1.8bn beats analyst forecasts by 200m
NatWest has reported a 36% jump in profits in the first three months of this year as the UK government reduced its stake in the bank to less than 2%, paving a return to fully private ownership after 17 years.
The bank reported operating profit before tax of 1.8bn, up from 1.3bn in the same period last year, beating analyst consensus forecasts by 200m.
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