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International Business Times
International Business Times
Business
AFP News

UK Bank NatWest Shakes Off CEO Turmoil As Profits Jump

NatWest Paul Thwaite United Kingdom Nigel Farage Interest Rates
The increase in profits in 2023 came despite a tumultuous year for the bank's management (Credit: AFP)

British bank NatWest on Friday said net profit jumped nearly a third in 2023 on higher interest rates, adding that Paul Thwaite would become permanent chief executive following boardroom turmoil.

Profit after tax increased 32 percent to GBP4.4 billion ($5.5 billion), NatWest said it a statement. Revenue climbed 12 percent to around GBP14.8 billion.

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