About: http://data.cimple.eu/news-article/2ef7c764c6492f8094a4f1aa95feb9d4b6bc12c558dfc561b0944351

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About: http://data.cimple.eu/news-article/2ef7c764c6492f8094a4f1aa95feb9d4b6bc12c558dfc561b0944351 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	British bank NatWest said Thursday that net profit more than doubled in the first quarter as the UK economy started to recover from the Covid pandemic. Profit after tax jumped to £620 million ($862 million, 713 million euros) in the three months to March, aided by a release of impairment provisions due to the improving economy, NatWest said in a statement. That compared with net profit of £288 million in the same period of 2020, when the Covid-19 pandemic erupted. "NatWest Group's profit in the first quarter of 2021 is a result of a good operating performance in our core franchises, as well as modest impairment releases that reflect the better-than-expected performance of our loan book," said chief executive Alison Rose. "Defaults remain low as a result of the UK government support schemes and there are reasons for optimism with the vaccine programmes progressing at pace and restrictions being eased. "However, there is continuing uncertainty for our economy and for many of our customers as a result of Covid-19," she added. NatWest revealed it had released £102 million of cash that it had previously set aside for loans that might not be repaid due to coronavirus fallout. The performance of NatWest, like rival Lloyds Banking Group, hinges on the performance of the domestic British economy because both have core UK retail operations. rfj/bcp/spm
schema:headline	NatWest bank doubles quarterly net profit
schema:mentions	Types of tennis match Pandemic Coronavirus disease United Kingdom Vaccine Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Alison Rose NatWest Lloyds Banking Group
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-29 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	83 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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