NatWest faces £140m hit from Iran war as UK growth slows and inflation rises

"Banking Giant NatWest Issues Warning on Economic Fallout from Middle East Conflict. Amid a backdrop of slowing growth and rising inflation, NatWest has sounded the alarm on the potential economic consequences of the ongoing conflict in the Middle East. The FTSE 100 lender has revealed that it expects to incur a £140m loss due to the crisis, on top of a £283m impairment charge, with almost half of the latter attributed to a revised forecast that takes into account increased geopolitical risk and weaker equity markets. As the global economy grapples with the effects of the conflict, investors will be watching closely to see how NatWest navigates these turbulent waters."

Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessmentBusiness live – latest updatesNatWest said the economic fallout from the conflict in the Middle East could cost it £140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.Overall, the FTSE 100 lender booked a £283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to “reflect increased geopolitical risk and weaker equity markets”. Continue reading...