NatWest Looks to Technology to Cut Costs After Earnings Beat

NatWest Group Plc beat estimates in the fourth quarter with a 30% jump in pretax income, as it set out plans to pare down costs through technology and boost earnings in the coming three years.

The British lender reported pretax income of £1.94 billion ($2.6 billion), ahead of analyst estimates compiled by Bloomberg of £1.7 billion. That took the full-year earnings to £7.7 billion, the highest since before the financial crisis that forced NatWest into a government bailout.