SHARE OF THE WEEK: NatWest boss likely to face further scrutiny over Nigel Farage with bank’s half-year results

NatWest boss Dame Alison Rose will likely have to conduct further intensive investigation into the debacle involving Nigel Farage’s bank account when the half-year results are published next week.

She has apologized to him for “deeply inappropriate” comments made about him in a file compiled by NatWest-owned private bank Coutts to justify closing his account. It’s because banks are being criticized for the way they treat savers and borrowers.

Critics say they have been too slow to raise returns for savers and too willing to raise interest rates for borrowers, adding hundreds of pounds to mortgage payments.

They accuse banks of profiteering and are likely to seize on any evidence that seems to emphasize this when banks including NatWest, Lloyds and Barclays report this week.

The focus will be on net interest margin — how much lenders benefit from savings and debit rates, and investors will look at NatWest’s expectations for lending to turn sour.

Michael Hewson, analyst at CMC Markets, said: “The concern is not so much about income, but about economic conditions over the course of the rest of the year, along with loan demand, pressure on margins and higher costs.”

Gary Greenwood, at Shore Capital, said: “We expect financial performance to have remained resilient against a backdrop of persistent inflation and rate hikes.”

Analysts are forecasting a 22 per cent rise in first-half profits to £2.3 billion.

NatWest is 39 percent taxpayer owned.