NatWest faces £140m hit from Iran war as UK growth slows and inflation rises

Profits ahead of expectations but almost half of 283m impairment charge follows forecast reassessment

• Business live - latest updates

NatWest said the economic fallout from the conflict in the Middle East could cost it 140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.

Overall, the FTSE 100 lender booked a 283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to reflect increased geopolitical risk and weaker equity markets".