RBSpF - NatWest Group plc (NWG) Q4 2023 Earnings Call Transcript
2024-02-16 17:22:09 ET
NatWest Group plc (NWG)
Q4 202 Earnings Conference Call
February 16, 2024 04:00 AM ET
Company Participants
Howard Davies - Chairman
Paul Thwaite - CEO
Katie Murray - CFO
Conference Call Participants
Aman Rakkar - Barclays
Benjamin Toms - RBC
Rahul Sinha - JPMorgan
Andrew Coombs - Citi
Alvaro Serrano - Morgan Stanley
Fahed Kunwar - Redburn Atlantic
Ed Firth - KBW
Chris Cant - Autonomous
Robin Down - HSBC
Presentation
Operator
Good morning and welcome to the NatWest Group Annual Results 2023 Management Presentation.
Today's presentation will be hosted by Chairman Howard Davies, CEO Paul Thwaite and CFO Katie Murray. After presentation, we'll take questions.
Howard Davies
Good morning, everyone, and thank you for joining Paul, Katie and me for our full year results call. This will be the last set of results the bank publishes before I stand down as Chairman. And in addition to our full year results this morning, we've also announced the appointment of Paul Thwaite as our permanent Group CEO.
As you will know, Rick Haythornthwaite was announced as my successor in September last year. He joined the group board formally as a non-executive director at the start of last month and will take over from me as Chair on the 15 of April. He led the process to appoint our new CEO.
The bank this new leadership team inherits is very different from the one I joined in 2015. The group has returned profitability, is more customer focused and is fundamentally stronger. In my first year, we declared a loss of over GBP 2 billion. Last year, we report a profit of over GBP 6 billion. So as I prepare to leave, there's a lot to be positive about.
The strong returns delivered in 2023 enabled us to make further significant capital distributions to our shareholders through dividends and buybacks. And as you would expect, we're working closely with UKGI as they explore potential retail share offer, which would further help in returning the bank to private ownership.
I'm personally pleased the succession process has been completed and we can look forward with an incoming Chair and a new CEO who have proven skills to support the group's continued progress and who I know care deeply about this business and its customers....
NatWest Group plc (NWG) Q4 2023 Earnings Call Transcript