NatWest Group plc revealed on Friday that its total income stood at £3 billion in the first quarter of fiscal 2022, increasing 15% from the same period the year prior.
Operating profit before tax reached £1.2 billion in the three months ending with March 31, 2022, marking a jump of 36% from the same trimester last year, and profit attributable to shareholders rose from £620 in the first quarter of 2021 to £841 million this year. Basic earnings per share surged 47% to 7.5 pence, while the return on tangible equity was 11.3%.
"The world has changed considerably during the last three months," CEO Alison Rose stated, referring to the conflict in Ukraine. "Despite the challenging environment, I am pleased with our performance as we continue to execute well against our strategy, driving sustainable growth and returns. Income and profits are substantially up, costs are down and we remain well capitalized as we build long-term value and deliver a simpler and better banking experience for our customers," she added.
