Ebene News – GB – NatWest promises £ 364million dividend and announces Ireland’s withdrawal

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NatWest Group told its shareholders it would pay its dividend, paying £ 364million, a year after the payments were suspended as the regulator asked banks to conserve cash for the pandemicThe bank, formerly the Royal Bank of Scotland, announced a dividend of 3 pence per share, the maximum allowed by new guidelines from the Prudential Regulation Authority This means that the Treasury, which is still the largest owner of NatWest after the nationalization of RBS during financial crisis, will receive around £ 225millionNatWest has also separately announced its intention to withdraw from the Republic of Ireland, where it heads Ulster Bank A review of the Irish bank has revealed that it will not achieve an acceptable level of return, NatWest said He will withdraw from the country, trying to minimize job losses, but Ulster Bank operations in Northern Ireland are unaffected, NatWest said“After careful consideration and despite the progress made, it became clear that Ulster Bank will not be able to generate long-term sustainable returns for our shareholders,” said Alison Rose, Managing Director of NatWest“As a result, we will begin a phased withdrawal from the Republic of Ireland over the next few years, which will be undertaken with careful consideration of the impact on customers and our colleaguesThe group said Allied Irish Banks had agreed to buy a portfolio of commercial loans worth around four billion euros (£ 3.5 billion) from Ulster Bank in Ireland It will also hire staff who works on the loans The deal is still subject to change He is also in talks with Permanent TSB and other banking companies interested in purchasing other assets from Irish bankingIrish Finance Minister Paschal Donohoe said: “After 160 years of serving the Irish public, today is a sad day Our thoughts are also with the staff of Ulster Bank as they learn of the closure of the bank here in Ireland “NatWest revealed it recorded a pre-tax operating loss of £ 351million in 2020, compared to a profit of £ 42 billion a year earlier It came after the company took £ 3.2 billion in depreciation for the year, factoring in loans that could fail, in large part due to economic stress caused by Covid-19 was below £ 3.5bn to £ 4bn Range of 5bn the bank previously announced for 2020 Total income fell 24% to £ 10bn 4bn, the bank revealed Shareholders of UK’s largest banks did received no dividends last year, after the Prudential Regulation Authority intervened to ask them to conserve cash that may be needed during the pandemicThis saved banks around £ 14bn in payments, giving them money to lend to businessesThrough government-backed programs, UK banks have loaned tens of billions of dollars to small and large businesses throughout the pandemic, helping many people stay afloat Ms. Rose said: ‘Despite a loss for year, NatWest Group delivered a resilient underlying performance in a challenging operating environment”The bank has continued to grow in key areas such as mortgages and commercial lending and our balance sheet remains strong, with one of the highest capital ratios among our UK and European counterparts” We announced today our intention to pay a final dividend while reaffirming our commitment to a steady return on capital for shareholders going forward”(Function (i, s, o, g, r, a, m) {i [‘GoogleAnalyticsObject’] = r; i [r] = i [r] || function () {(i [r] q = i [r] q || []) push (arguments)}, i [r] l = 1 * new date (); a = screateElement (o), m = sgetElementsByTagName (o) [0]; aasynchronous = 1; asrc = g; mparentNodeinsertBefore (a, m)}) (window, document, ‘script’, ‘// wwwGoogle Analyticscom / analyticsjs’,’ ga ‘); ga (‘ create ‘,’ UA-72310761-1 ‘,’ auto ‘, {‘ name ‘:’ pacontentapi ‘}); ga (‘ pacontentapidefine ‘,’ referent ‘, original location); ga (‘ pacontentapiset ‘,’ dimension1 ‘,’ By August Graham, PA City Reporter ‘); ga ( ‘pacontentapiset’, ‘dimension2’, ‘367347f6-8cd5-49e3-957e-0ed929da68e8’); ga (‘pacontentapiset’, ‘dimension3’, ‘paservice: finance, paservice: finance: city, paservice: news, paservice: news: ireland, paservice: news: uk ‘); ga (‘ pacontentapiset ‘,’ dimension6 ‘,’ history ‘); ga (‘ pacontentapiset ‘,’ dimension7 ‘,’ composite ‘); ga (‘ pacontentapiset ‘,’ dimension8 ‘, null); ga (‘pacontentapiset’, ‘dimension9 ‘, null); ga (‘pacontentapiset’, ‘anonymizeIp’, true); ga (‘pacontentapienvoyer’, ‘pageview’, {‘location’: href location, ‘page’: (locationpath location search locationhash), ‘title’: ‘NatWest promises dividend xA3364m and announces withdrawal from Ireland’ });

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Ulster Bank, NatWest, NatWest Group, Finance, Ireland

Ebene News – UK – NatWest promises £ 364million dividend and announces Ireland’s withdrawal

Source: https://www.theboltonnews.co.uk/news/national/19102618.natwest-promises-364m-dividend-announces-ireland-withdrawal/