NatWest Group plc (NWG) Q3 2024 Earnings Call Transcript

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NatWest Group plc ( NYSE: NWG ) Q3 2024 Earnings Conference Call October 25, 2024 4:00 AM ET Company Participants Paul Thwaite - Group Chief Executive Officer Katie Murray - Group Chief Financial Officer Conference Call Participants Guy Stebbings - BNP Paribas Exane Chris Cant - Autonomous Benjamin Toms - RBC Aman Rakkar - Barclays Alvaro Serrano - Morgan Stanley Jonathan Price - Jefferies Benjamin Caven-Roberts - Goldman Sachs Robert Noble - Deutsche Bank Andrew Coombs - Citi Amit Goel - Mediobanca Ed Firth - KBW Jason Napier - UBS Operator Good morning, and welcome to the NatWest Group Q3 Results 2024 Management Presentation. Today's presentation will be hosted by CEO, Paul Thwaite; and CFO, Katie Murray. After the presentation we will take questions.

Paul Thwaite Good morning, and thank you for joining us today. I'll start with a brief introduction before Katie takes you through the financial performance and then we'll open it up for questions. You will have seen that we are upgrading our full year income and returns guidance this morning as we continue to make good progress on our three strategic priorities.



Discipline growth, bank wide simplification together with active balance sheet and risk management. This progress together with our ongoing support of customers is reflected in our performance. So, let's turn to the financial headlines for the first 9 months of the year.

Healthy levels of customer activity continue on both sides of the balance sheet. Customer lending growth of GBP 8.1 billion to GBP 367 billion was broad-based.

In Commercial & Institutional this was driven by both our large corporate and commercial mid-market customers including lending to the social housing sector. We provided GBP 23.5 billion of climate and sustainable funding and financing bringing the total to GBP 85.

4 billion since July 2021 in reach of our GBP 100 billion.