$NWG

NatWest (NWG) is shifting toward share buybacks to support its yield. The UK bank says it targets about 50% of annual ordinary earnings as dividends and has more than tripled dividend per share from 2021 to 2025 as profits rose with higher interest rates and business streamlining. Its interim dividend payout increased 25%.

NatWest International plans to cut 32 back-office jobs in Gibraltar, according to Unite the Union. The bank says customer-facing roles and local banking services will not be affected, and the changes aim to simplify operations by centralizing some functions. Staff were informed earlier this week, with redeployment options limited, Unite says.

City AM reports that UK financial services firms are tightening transgender-related single-sex bathroom rules after an Equality and Human Rights Commission code of practice on a Supreme Court ruling on sex. Admiral, Coventry Building Society, and Santander updated HR policies to restrict single-sex facilities to biological sex and/or add gender-neutral options. NatWest, Standard Chartered, and Prudential were cited by Sex Matters; some did not comment.

NatWest launched First Active, a digital savings arm, offering easy-access accounts paying 4.5% interest, made up of a 3% base rate plus a 1.5% bonus for 12 months. NatWest says FSCS protection applies up to £120,000 per provider. The article compares rates with Chase, Post Office, Cynergy Bank, Cahoot and Lemfi.

NatWest said its specialist agriculture team is extending drought-related financial support to eligible UK customers, including loan repayment holidays, interest rate reductions, fee-free emergency lending, overdraft support and working capital facilities. It also offers funding for resilience investments such as water storage and reservoirs. NatWest expects enquiries to rise later in the season as dry weather pressures cashflow.

Global stocks were mixed as investors weighed prospects for a US-Iran peace deal that could reopen the Strait of Hormuz. In Ireland, Iseq All-Share fell 0.32% to 14,233.55, with AIB down 0.92% and Kingspan up 1.99%. In London, FTSE 100 slipped 0.17% while BP rose 2.15%. US indexes were slightly lower by 1pm; KKR and Axon gained, while Amentum fell.

NatWest said it will offer repayment holidays and emergency overdrafts to its 42,000 farming customers as drought affects crop yields, with more than two thirds of England officially in drought. The bank cited a 22% year-on-year rise in farmers’ overdraft usage. Lloyds also plans tailored support. The move may increase future borrowing requests.

NatWest said its specialist agriculture team is contacting drought-affected farmers, noting it has not yet seen a major rise in assistance demand. It expects more enquiries later as lower yields, earlier harvests, poor grass growth and higher feed costs hit finances. Support includes repayment holidays, rate cuts, emergency lending and working capital solutions, plus resilience investments like water storage.

NatWest said it is increasing support for UK agricultural customers facing drought and heatwave conditions, including loan repayment holidays, interest rate reductions, emergency lending with no arrangement fees, overdraft support, and working capital solutions. It also offers specialist agriculture relationship managers and funding for resilience investments like water storage projects, according to NatWest.

NatWest said it is offering UK farming customers repayment holidays, interest rate reductions and temporary emergency lending with no arrangement fees, plus overdraft and working capital support. The bank cited drought declarations and Environment Agency data showing 71.3% of England in drought. It expects more enquiries later as yields and cashflow are affected.