NWG - Why British Retail Banking Company NatWest's Shares Are Diving Today | Benzinga
NatWest Group PLC (NYSE: NWG) shares are trading lower by around 11% after it reported Q3 FY23 results.
NatWest also disclosed key findings from the Phase I investigation of the Travers Smith independent review in July related to the decision to close Coutts accounts of the former U.K. Independence Party leader, Nigel Farage, and the circumstances covering a potential confidentiality breach regarding his customer information.
The bank stated that the closure of the account was lawful and further added that there were, however, 'serious failings' related to how the decision was reached and communication with Mr Farage, as well as the treatment of his confidential information.
Group Chairman, Sir Howard Davies, said, "We apologise once again to Mr Farage for how he has been treated. His experience fell short of the standards that any customer should expect."
The company's total income was ...