RBS - NatWest Group targets 9%-10% RoTCE by 2023

NatWest Group (RBS) sets out targets for its three-year plan, including lending growth above market rate, cutting costs by ~4% each year, operating with a CET1 capital ratio of 13%-14%, and return on tangible equity of 9%-10% by 2023.For 2021, NatWest expects to incur costs of ~£0.8B from the continued refocusing of NatWest Markets and resizing of the Group's cost base.Expect NatWest Markets exit and disposal costs and the impact of Commercial Banking capital management actions to total a combined £0.3B in 2021.NatWest Group Q4 operating profit before tax and excluding notable items of £145M fell from £652M in Q3 and £332M in Q4 2019.Bank net interest margin (NatWest Group NIM excluding NatWest Markets) of 1.66% vs. 1.65% in Q3 and 1.93% in the year-ago quarter.Cost:income ratio of 92.2% increased from 74.5% in Q3 and 59.4% in the year-ago quarter.Q4 return on tangible equity stood at -1.4% at Dec. 31, 2020 vs.

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NatWest Group targets 9%-10% RoTCE by 2023