- NatWest unveils additional payout
- Market focuses on stubborn costs
On the surface, NatWest (NWG) achieved all it could feasibly accomplish for the year. The bank announced a new £800mn share buyback programme, profits up more than 34 per cent and a return on tangible equity that topped 12 per cent, with a forecast that this will rise to 14-16 per cent this year. However, the City is not in a forgiving mood at the moment and, as with Barclay’s (BARC), a marginal miss on net interest margin forecasts sent the shares sharply lower on results day.