Natwest Plans £4.5B Loan-Loss Provision Amid Virus Risk

Law360, London (July 31, 2020, 3:04 PM BST) -- Natwest said Friday it put aside £2.9 billion ($3.8 billion) to cover possible pandemic-linked loan defaults in the first six months of the year, a provision it said could swell to £4.5 billion by the end of 2020.

Natwest Group plc, formerly The Royal Bank of Scotland Group plc, said in its half-year results that it set aside a £2.9 billion impairment charge to earnings, a sharp rise from the £323 million figure for the same time last year, leaving the group with a net loss of £705 million for the six-month period.

The results put NatWest in line with preparations...

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