NatWest reports profit spike, upgrades guidance on wealth and loan growth

The British lender reported pretax operating profit for the July-September period of 2.2 billion pounds ($2.95 billion), up from 1.7 billion a year earlier and beating the 1.8 billion expected by analysts.
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It also said it now expects to make a return on tangible equity this year of above 18%, from previous guidance of above 16.5%, as it reported broad-based loan growth across its mortgages and business lending, and good progress in the key battleground for British banks of wealth management.
The bank said its assets under management and administration grew by 8.1% to 56 billion pounds.
NatWest on May 30 announced its return to full private ownership, ending a costly, taxpayer-funded government investment that dated back to its rescue in the 2008 global financial crisis.
($1 = 0.7451 pounds)
Reporting By Lawrence White; Editing by Tommy Reggiori Wilkes