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NatWest Group has become the latest high street bank to report lower profits, after earnings soared in 2023 on the back of higher interest rates. The group revealed an operating pre-tax profit of £1.3bn over the first three months of the year, down from £1.8bn the previous year.

NatWest becomes latest high street bank to report lower profits

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Marissa Pepito

⏲ 1 minute 6 seconds 👁 2

Marissa Pepito

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The failures of Silicon Valley Bank and peers like First Republic Bank made 2023 the most tumultuous year for the banking industry since the 2008 crisis, but for some small community banks, the chaos hardly registered.<br/><br/>City Holding Co., the parent company of West Virginia's City National Bank with $6.2 billion in assets, is based in the capital city of Charleston, in a region of Appalachia known for coal. West Virginia is a state whose population of 1.8 million is on the decline, but president and CEO Skip Hageboeck sees that as an asset instead of a drawback. Major banks don’t reinvest much in West Virginia and surrounding towns in Virginia, Ohio and Kentucky to compete for customers, and City National has steadily increased its market share. Thanks to its focus primarily on retail banking rather than catering to businesses, just $894 million out of $5.1 billion (17.5%) in deposits are uninsured, according to its most recent call report, compared with 41% of total deposits at all U.S. banks.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/hanktucker/2024/04/04/americas-best-banks-2024/?sh=2fd50226d762<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

America's Top 5 Best Banks 2024

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Wrestlelamia

WWE Wrestlers Who Had A Reign With ZERO Successful Title Defences

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kakali Ray

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From 2021 to 2022 seven top-rated home insurance companies in Florida have shut down, with 2024 expected to be one of the most active Atlantic hurricane seasons in history.All seven companies received an 'A' rating from Ohio based insurance rating firm Demotech, meaning they were considered financially solvent and high quality. A paper from Harvard Business School claims that Demotech is rating lower quality insurers more highly due to a lack of options in high risk areas. Demotech denies this.

Seven A-Rated Florida Insurance Companies go Bankrupt

⏲ 0:55 👁 15.8M

ThatsGoodSports

Clickbait Sports Official NFL Pre Draft Party!

⏲ 45 minutes 19 seconds 👁 11.5K

Peter Sarellas

What Frame Rate Should You Film In for Sports Videos?

⏲ 13 minutes 48 seconds 👁 24.8K

Mortgage rates climbed to 7.1%, marking the third straight week of gains. Here's a look at what to expect from the housing market in the months ahead.

Mortgage rates soar over 7% - highest since late 2023

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Wrestlelamia

Cody Rhodes Injury Scare...Roman Reigns Withdraws From WWE Draft...NEW WWE Title...Wrestling News

⏲ 10 minutes 30 seconds 👁 29.1K

Porzak Golf

Golf Lower Body Movement - FOR BETTER ROTATION!

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