NatWest posts first quarter profit rise of 12%

LONDON, May 1 (Reuters) - ​NatWest ⁠reported its first ​quarter profit rose 12% year-on-year ​on ‌Friday, as the British ⁠lender grew lending income ⁠while keeping ​costs under control. The bank said operating profit before tax ​for ‌January-March came in at 2 billion pounds ($2.72 billion), up from ​1.8 billion pounds in the ‌same period a year ago and just ‌above the average of analysts' forecasts of 1.9 billion ​pounds.

NatWest also upgraded its income ‌guidance for the year, now saying it expects to ⁠be ⁠near the top ‌of the 17.2-17.6 billion pound range ​it ​previously set ‌out.

Natwest