NatWest Q1 Profit Climbs 12% as Iran War Provision Removed
Published by WarSignal Editorial · Last updated
NatWest Group reported a 12% rise in first‑quarter profit, driven by the removal of a provision related to the Iran conflict.
The UK bank announced a profit increase to £1.3 billion, up from £1.2 billion in the same period last year. The gain was attributed to the elimination of a reserve set aside for potential losses linked to the Iran war.
The move reflects the bank’s assessment that the risk associated with the Iran conflict has diminished, allowing it to release the previously held provision.
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