NatWestNYSE: NWG

NatWest Group PLC (LSE:NWG) shares have hit a 13-year high and returned to levels not seen since the bank was grappling with the fallout from the global financial crisis and its government bailout. A share price target upgrade by Peel Hunt on Monday prompted the lender to climb as high as 389.3p, a level last seen in 2011.

Michelle Girard, NatWest head of U.S. coverage and CEO of NatWest Markets Securities, joins 'Squawk Box' to preview the October jobs report, state of the economy, impact of the 2024 election, and more.

NatWest Group plc has been a strong performer this year, returning around 80% including dividends. Third-quarter results were strong, with the bank beating consensus on most key lines. Structural hedge income remains a major tailwind over the next couple of years.

Mortgage rates fell slightly this week as lenders mulled the path the UK base interest ahead. According to Moneyfacts, average two-year fixed mortgage rates sat at 5.3921% come Friday, against 5.4113% at the start of the week.

NatWest Group plc (NYSE:NWG ) Q3 2024 Earnings Conference Call October 25, 2024 4:00 AM ET Company Participants Paul Thwaite - Group Chief Executive Officer Katie Murray - Group Chief Financial Officer Conference Call Participants Guy Stebbings - BNP Paribas Exane Chris Cant - Autonomous Benjamin Toms - RBC Aman Rakkar - Barclays Alvaro Serrano - Morgan Stanley Jonathan Price - Jefferies Benjamin Caven-Roberts - Goldman Sachs Robert Noble - Deutsche Bank Andrew Coombs - Citi Amit Goel - Mediobanca Ed Firth - KBW Jason Napier - UBS Operator Good morning, and welcome to the NatWest Group Q3 Results 2024 Management Presentation. Today's presentation will be hosted by CEO, Paul Thwaite; and CFO, Katie Murray.

NatWest Group PLC (LSE:NWG) shares rose 4.5% in early trading after the bank raised its annual forecast, reflecting strong performance in the UK banking sector. The boost follows a 26% increase in third-quarter profit, attributed to expanded lending and stable margins despite lower central bank rates.

NatWest Group PLC (LSE:NWG) confirmed the UK banking sector is in rude health as it followed Barclays PLC (LSE:BARC) by upgrading its outlook. It did so on the back of a 26% increase in third-quarter profit, driven by expanded lending and stable profit margins despite declining central bank rates.

NatWest reported a 25% rise in third quarter profit after a better than expected performance against intense competition in the mortgage market and falling interest rates that are squeezing lending margins.

Margins and impairments will be the focus of NatWest's update