NatWest reported Q1 attributable profit of GBP 1,279 million and a return on tangible equity of 19.8%. Total income, excluding notable items, increased by GBP 1,036 million, or 37.2%, compared with Q1 2022 principally reflecting the impact of volume growth and yield curve movements. Bank net interest margin of 3.27% was 7 basis points higher than Q4 2022. CEO, Alison Rose, commented: "NatWest Group’s strong performance in Q1 2023 is underpinned by our robust balance sheet, our high levels of capital and liquidity and our well-diversified loan book. Through a period of significant macro disruption and uncertainty, we continue to stand alongside the people, families and businesses we serve, providing targeted support and growing our lending responsibly."
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