“Our performance in the first half of the year has been significantly impacted by the challenges and uncertainty our economy continues to face as a result of Covid-19. However, NatWest Group has a robust capital position, underpinned by a resilient, capital generative and well diversified business.
Throughout this crisis we have provided exceptional levels of support to our customers, colleagues and the communities we serve. I am proud that our colleagues have consistently shown they are putting our purpose at the heart of everything they do.
Through our strong balance sheet and prudent approach to risk, we are well placed not only to withstand Covid-19 related impacts but also to provide the right support to those who will need it most in the tough times to come.
Our purposeful strategy will help our customers, colleagues and communities to recover, rebuild and, ultimately, to thrive. We are building a sustainable business that will generate lasting value for all our stakeholders, as we work together to create a greener, fairer and more inclusive economy.”
We’ve been helping our colleagues and customers through the impacts of Covid-19
We’ve provided lending support to our customers with a disciplined approach to risk and value creation:
Approved £10.1 billion through the government lending initiatives(1,2).
Facilitated approximately £7.4 billion of Covid-19 Corporate Financing Facilities (CCFF) issuances(2).
We’ve supported the financial health of our customers:
Helped approximately 240,000 customers with an initial three month mortgage repayment holiday and provided payment holidays, of up to twelve months, on approximately 71,000 business customer accounts(2).
Delivered approximately £2.0 million of cash to vulnerable customers’ homes(2).
Our long-term investment plan is powering our operational effectiveness:
Increased digital adoption with over 500,000 new mobile app downloads and over 485,000 new online banking customers(2).
Launched digital credit scoring in our mobile app with a net promoter score of +52(3).
We’ve partnered to proactively respond and support UK communities:
Supported the National Emergencies Trust by raising £10 million through matched customer donations.
Donated £1 million to eight existing debt management not-for-profit partners.
We’ve prioritised the wellbeing of our colleagues;
Enabled over 50,000 colleagues to work from home, including over three quarters of our contact centre colleagues.
Ensured that all colleagues continue to be paid as normal until September if they need to take some time to look after their families, are unable to work from home or if they are ill.
Replays can be accessed two hours post event. Replay facilities will be available until Sunday 16 August 2020. To access a replay dial-in from the following telephone numbers and use the appropriate access code from the list below:
International dial: +44 (0) 333 300 9785
UK free call dial: 0808 238 0667
Media Audio conference ID: 1286274
(1) Inclusive of Commercial Banking and Private Banking: Bounce Back Loan Scheme (BBLS) – £6.1 billion; Coronavirus Business Interruption Loan Scheme
(CBILS) – £3.3 billion; Coronavirus Large Business Interruption Loan Scheme (CLBILS) – £0.7 billion.
(2) As at 30 June 2020.
(3) As at 3 April 2020.