NatWest Group plc has announced a rise in its pre-tax operating profit for the fiscal year, from £5.13 billion last year to £6.18 billion. The earnings per ordinary share from continuing operations saw an increase from 36.2 pence to 48.9 pence. A business performance basis showed a 20% increase in overall operating profit at £6.2 billion for 2023.
Total income for the period ending on the 31st of December 2023 was recorded at £14.75 billion, a considerable leap from the previous year's total income of £13.16 billion. Excluding a notable item, the total income rose by 9.8% to £14.3 billion compared to 2022. The net interest income also saw an increase from £9.84 billion to £11.05 billion.
In other news, the company's directors have proposed a final dividend of 11.5 pence per ordinary share. If given the go-ahead, payments to shareholders will be executed on 29th April 2024, applicable to those on the register at the close of business on 15 March 2024. Additionally, the Group is planning to kickstart a buyback programme on the market in 2024, which could sum up to £300 million.
