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RARE PHOTOS: Uk bank natwest shakes off ceo turmoil as profits jump | Rare Historical Photos

NatWest Paul Thwaite United Kingdom Nigel Farage Interest Rates

The increase in profits in 2023 came despite a tumultuous year for the bank's management (Credit: AFP)

British bank NatWest on Friday said net profit jumped nearly a third in 2023 on higher interest rates, adding that Paul Thwaite would become permanent chief executive following boardroom turmoil.

Profit after tax increased 32 percent to GBP4.4 billion ($5.5 billion), NatWest said it a statement. Revenue climbed 12 percent to around GBP14.8 billion.

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