NatWest profits top £2bn

The strong financial results were driven by a significant increase in net interest income and a resilient performance in its retail banking division.

Chief Executive Paul Thwaite cautioned that while the bank is currently thriving, the UK economy faces headwinds from rising energy costs and slowing consumer spending.

NatWest is also preparing for the government's planned sale of its remaining stake in the bank, which is expected to take place later this year.

The results have bolstered investor confidence, though the bank remains wary of the long-term geopolitical risks in the Middle East.