NatWest Bank’s stock, listed on the London Stock Exchange, fell by 18 percent during morning trading on Friday, recording its lowest levels since the vote on Britain’s exit from the European Union and the Brexit decision in June 2016, but it came back and reduced its losses during the session to about 12 percent.
What is the reason for this decline?
Amid a series of negative news about the bank, analysts said that its basic profit margin for this year would be lower than expected, which caused the shares to decline. This also coincided with the bank announcing that it was reducing its optimistic expectations for the results of the full year.
In addition, the Conduct Authority’s news of a review of NatWest’s governance, systems and controls has put pressure on the shares, in relation to a violation of data protection rules through a journalist’s access to certain accounts of well-known clients involved in political affairs.
(Reading by Lynn Madi)
2023-10-27 16:10:32
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