Wall Street

NatWest profit rises even as threat from inflation mounts

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Reuters UK

LONDON (Reuters) -NatWest reported better than expected profit for the first half of the year on Friday, as Bank of England rate hikes lifted its finances despite runaway inflation threatening to crunch Britain’s economy. NatWest reported pre-tax profit of 2.6 billion pounds ($3.17 billion) for the six months to June, up slightly from 2.3 billion pounds the previous year and ahead of the 2.2 billion pounds average of analyst forecasts compiled by the bank. NatWest said it would pay an interim dividend of 3.5 pence and a special dividend with share consolidation of 1.75 billion pounds, equivale…

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