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FTSE 100 heads for a narrowly green end; Wall Street rides tech rebound higher
London's leading index advanced 7 points Friday to 6,624
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LON:NWG
NatWest Group PLC is one of the world's top 10 financial services groups and a leading provider of personal, business and institutional banking services. NatWest Group is the new name for Royal Bank of Scotland as of July 2020.
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London's leading index advanced 7 points Friday to 6,624
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It's banking results season and following hot on the heels of Barclays on Thursday, it's NatWest's turn to march to the crease on Friday
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Elsewhere in the financial sector, Citigroup removed its ‘sell’ rating on Hargreaves Lansdown
The investment bank said they now estimated the chance of a last minute trade deal between the UK and the EU at around 60%, adding that the big banks also faced an elevated risk of negative interest rates
The FTSE 100 bank is reportedly considering an offer for the supermarket's financial services business, which currently has over 2mln customers
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The former Royal Bank of Scotland took £254mln of bad loan impairments, down from £2.1bn in the second quarter and £802mln in the first
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The main indices were red on both sides of the Atlantic on Friday
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Elsewhere, Glencore will update on quarterly production levels
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NatWest is also separately closing its Regents House office in Islington, London
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The UBS analysts noted the bank's numbers followed a familiar pattern, with a stronger pre-provision profit offset by a bigger reserve build
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“We believe the full year 2020 impairment charge is likely to be in the range of £3.5-4.5 billion," the lender said