RBS pushes funding costs and NIM accounting onto NatWest Markets

NatWest Markets made a loss in the first quarter, Royal Bank of Scotland said on Friday when presenting its results, partly thanks to it being made to account for the cost of old RBS plc debt. The group will also now stop including NatWest Markets when reporting its net interest margin, and one analyst said this could raise questions about commitment to the investment bank.

  • By Jasper Cox
  • 26 Apr 2019

From now on NatWest Markets’ NIM — including the funding cost of the trading book — will be hived off from the NIM of other parts of the group in RBS’s accounts.

Income at NatWest Markets fell by 41% to £256m compared with the first quarter of ...

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