Natwest Group PLC at Bank of America Merrill Lynch Financials CEO Conference (Virtual) Transcript
Good morning, everybody. Thank you for joining us. I'd like to ask you 3 quick questions before we move on to NatWest. You can see them on your screen, and please do respond, and we'll collate them and come back to them later in the day.
The first one, sadly, we are asking this question again on Brexit. So there are options A through D. The first one, there will be a deal, I'm not worried; there will be -- there will probably be a deal; thirdly, there will be a deal, but it's so limited that a bad outcome is likely anyway; or deal -- or 4 -- or D, even, we're heading for no deal. So that's the Brexit question.
The second one on domestic U.K. bank profitability. A, ROE targets will be met; the second option, ROE targets -- ROE and returns already can get to a good level, but only after restructuring; and the third option, interest rates make it too hard to get to a decent ROE.
And then the final question on capital distribution. Firstly, the Bank of England will lift the
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