NatWest Markets Posts Loss In H1 - Quick Facts

(RTTNews) - NatWest Markets Group (RBS, RBS.L) slipped to loss in the first half of fiscal 2020, due to the uncertain and rapidly changing environment brought about by the Covid-19 pandemic.

NWM Group reported a loss of £129 million for H1 2020 compared with a profit of £205 million in H1 2019. Income was up £303 million to £809 million, due to strong levels of customer activity which more than offset the impact of traded credit write-downs following the Covid-19 outbreak.

However, operating expenses increased £403 million to £814 million in H1 2020, reflecting higher litigation and conduct costs, strategic costs and the non-recurrence of certain one-off cost recoveries in H1 2019.

Net interest income was a negative £39 million compared to £107 million loss incurred a year ago. Non-interest income rose to £848 million from £613 million last year.