NatWest reports 16 per cent fall in first half pre-tax operating profits to £3bn

Banking giant NatWest has revealed half-year profits fell by less than feared as it announced a deal to buy a £2.5 billion mortgage portfolio from rival Metro Bank. NatWest reported a 16% fall in pre-tax operating profits to £3 billion for the six months to June 30. Despite the fall, the result was better than the £2.6 billion most analysts had pencilled in.