In February, NatWest forecast: RoTE 14%-16% for FY23. It also said: "Income excluding notable items for the Group is expected to be around GBP 14.8 billion and full year NIM around 3.20%, based on a Bank of England base rate of 4.00% through the remainder of 2023. It expects to deliver a Group cost:income ratio below 52% or around GBP 7.6 billion of Group operating costs, excluding litigation and conduct costs. Impairment losses in 2023 are expected to be in line with through the cycle guidance of 20-30 basis points."
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