AtWest boss Alison Rose has spoken of ‘reasons for optimism’ as the state-backed bank she heads followed Lloyds in turning on the taps to release part of the vast sea of money set aside to cover bad debts.
While the results of the former Royal Bank of Scotland were not as well received as those of its rival lender, the return of £ 102million from its reserves nonetheless contributed to an 82% increase in the profits of the first quarter, which amounted to £ 946million, with the prospect of more to come.
It’s not just state support that NatWest will have on this trip. There is what amounts to a large state subsidy in there as well, which is also true of Lloyds, which the government also bailed out during the financial crisis, and the other big banks that received a lot of indirect support. to maintain them.
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This notice was published: 2021-04-29 20:30:46