NAT WORST

Crisis-hit bank rakes in extra £1bn profits while we all struggle

- MEG JORSH

NATWEST Group’s profits have surged by nearly £1billion as account-holders battle the cost-of-living crisis.

The British finance giant – which sparked a row when one of its posh banking brands closed Nigel Garage’s bank account – reported a “strong” financial performance for the first half of 2023.

Its pre-tax profits leapt to £3.6bn, compared to £2.6bn in the same period last year. The lender has been raking in cash thanks to higher interest rates pushing up the cost of borrowing as mortgages continue to rise.