NatWest Group-Segmental reporting re-presentation
NatWest Group plc 22 April 2022
NatWest Group - Segmental reporting re-presentation
NatWest Group plc ("NatWest Group") has today published details of the change in operating segments that it announced on 27 January 2022 ( https://www.natwestgroup.com/news/2022/01/natwest-group-brings-together-new-commercial-institutional-franchise.html ). Previously reported financial information has been re-presented in the new operating segments to aid comparison of NatWest Group's forthcoming Q1 2022 results with prior periods. The re-presentation does not change the consolidated financial results of NatWest Group.
On 27 January 2022, NatWest Group announced that a new franchise, Commercial & Institutional, would be created, bringing together the Commercial, NatWest Markets and RBS International businesses to form a single franchise with common management and objectives, to best support our customers across the full non-personal customer lifecycle.
NatWest Group's operating segments are now:
- Retail Banking
- Private Banking
- Commercial & Institutional
- Central items and other
- Ulster Bank RoI
Financial information for the years 2019, 2020, and 2021 and the nine quarters from Q4 2019 to Q4 2021 are re-presented in the attached financial supplement http://www.rns-pdf.londonstockexchange.com/rns/0327J_1-2022-4-22.pdf which is also available to view and download at https://investors.natwestgroup.com/ .
NatWest Group's Q1 2022 results will be announced on 29 April 2022 and will be presented under the new operating segment structure.
For further information, please contact:
Alexander Holcroft
Investor Relations
+44 (0) 207 672 1758
NatWest Group Press Office
+44 (0) 131 523 4205
Legal Entity Identifier: 2138005O9XJIJN4JPN90
Forward-looking statements
This document contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, such as statements that include, without limitation, the words 'expect', 'estimate', 'project', 'anticipate', 'commit', 'believe', 'should', 'intend', 'will', 'plan', 'could', 'probability', 'risk', 'Value-at-Risk (VaR)', 'target', 'goal', 'objective', 'may', 'endeavour', 'outlook', 'optimistic', 'prospects' and similar expressions or variations on these expressions. These statements concern or may affect future matters, such as NatWest Group's future economic results, business plans and strategies. In particular, this document may include forward-looking statements relating to NatWest Group plc in respect of, but not limited to: its creation of the Commercial & Institutional franchise and the intended benefits of the Commercial & Institutional franchise, the impact of the Covid-19 pandemic, its regulatory capital position and related requirements, its financial position, profitability and financial performance (including financial, capital, cost savings and operational targets), the implementation of its Purpose-led strategy, its ESG and climate related targets, its access to adequate sources of liquidity and funding, increasing competition from new incumbents and disruptive technologies, its exposure to third party risks, its ongoing compliance with the UK ring-fencing regime and ensuring operational continuity in resolution, its impairment losses and credit exposures under certain specified scenarios, substantial regulation and oversight, ongoing legal, regulatory and governmental actions and investigations, the transition of LIBOR and IBOR rates to alternative risk free rates and NatWest Group's exposure to economic and political risks (including with respect to terms surrounding Brexit and climate change), operational risk, conduct risk, cyber, data and IT risk, financial crime risk, key person risk and credit rating risk. Forward-looking statements are subject to a number of risks and uncertainties that might cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, the impact of the Covid-19 pandemic, future growth initiatives (including acquisitions, joint ventures and strategic partnerships), the outcome of legal, regulatory and governmental actions and investigations, the level and extent of future impairments and write-downs (including with respect to goodwill), legislative, political, fiscal and regulatory developments, accounting standards, competitive conditions, technological developments, interest and exchange rate fluctuations, general economic and political conditions and the impact of climate-related risks and the transitioning to a net zero economy. These and other factors, risks and uncertainties that may impact any forward-looking statement or NatWest Group plc's actual results are discussed in NatWest Group plc's UK 2021 Annual Report and Accounts (ARA) and NatWest Group plc's filings with the US Securities and Exchange Commission, including, but not limited to, NatWest Group plc's most recent Annual Report on Form 20-F and Reports on Form 6-K. The forward-looking statements contained in this document speak only as of the date of this document and NatWest Group plc does not assume or undertake any obligation or responsibility to update any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except to the extent legally required.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 hour ago eEnergy Group
- 1 hour ago Ultimate Products
- 1 hour ago Orosur Mining Inc
- 14 hours ago Rathbones Group
- 14 hours ago Raspberry PI Holdings (WI)