NatWest profits soar to £3.6bn after week of resignations

NatWest has reported a sharp rise in first-half profits to £3.6bn following a week of high-profile resignations.

The profits were better than expected and up from £2.6bn a year earlier.

The results come after a torrid few days for the bank, which saw both its chief executive and the boss of its Coutts division quit over the closure of Nigel Farage’s account.

The board of NatWest, which is 39% owned by the taxpayer, remains under pressure over the row.

Its share price has fallen by more than 6% over the week. Sir Howard Davies remains as chair of the group, although former UKIP leader Mr Farage has also called on him to step down.