NatWest Group plc (NYSE: NWG) reported Q3 EPS of £0.14, £0.15 worse than the analyst estimate of £0.29. Revenue for the quarter came in at £3.74 billion versus the consensus estimate of £4.66 billion.

OUTLOOK

In 2024 we now expect:

- to achieve a return on tangible equity above 15%.

- income excluding notable items to be around £14.4 billion.

- Group operating costs, excluding litigation and conduct costs, to be broadly stable compared with 2023 excluding around £0.1 billion increase in bank levies and £24 million of costs in relation to a retail share offering.

- our loan impairment rate for 2024 to be below 15 basis points.

In 2026 we continue to expect:

- to achieve a return on tangible equity for the Group of greater than 13%.

For earnings history and earnings-related data on NatWest Group plc (NWG) click here.