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The UK's biggest banks notched their highest combined annual profits ever last year as interest rate hikes around the world gave lenders gaping margins.
"Market sentiment is being buoyed by better-than-expected retail sales," Sophie Lund-Yates, lead equity analyst, Hargreaves Lansdown.
Natwest has appointed Paul Thwaite as permanent chief executive after a tumultuous year. Who is the man tasked with steadying the ship?
Paul Thwaite has been confirmed by Natwest's board to be the new group CEO, as he is set to take home a £1.1m pay package
The group said it had recorded an operating profit of £6.2bn for 2023, up 20 per cent on 2022's recorded figures.
Natwest’s board is reportedly naming Paul Thwaite, its current interim chief executive, as the permanent head of the taxpayer-backed bank.
Britain's biggest banks are set to report strong annual profits over the next two weeks despite mounting margin pressure from a likely peak in interest rates.
Natwest looks to shrug off the turmoil of the recent debanking saga and prepares to sell its government-owned shares to the public.
The Treasury could begin selling its shares in Natwest as soon as June, the body for government investments has confirmed.
The government is preparing to start selling its shares in Natwest to retail investors as soon as the middle of this year, City A.M. understands.
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