NatWest Expects GBP325 Million Third Quarter Charge From Tender Offer

(Alliance News) - NatWest Group PLC said Wednesday it expects to book a GBP325 million charge in ...

Alliance News 23 September, 2020 | 8:07PM
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(Alliance News) - NatWest Group PLC said Wednesday it expects to book a GBP325 million charge in the third quarter as a result of the state-backed lender's tender offer.

The company, formerly known as Royal Bank of Scotland, said it has GBP1.98 billion in aggregate principal amount of securities that were tendered.

Further, NatWest said that after taking into account the estimated effects of taxation, and based on risk weighted assets of GBP181.5 billion as reported for June 30, this would equate to a reduction in the CET1 capital ratio of approximately 15 basis points.

The stock closed up 1.8% at 98.16 pence on Wednesday.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NatWest Group PLC 155.50 GBX -1.14

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