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Aug 4 2021, 07:25 IST/BST
H1 2021 results are well ahead of expectation based on an impairment write-back, other income and capital. Notably, capital includes an accrual for foreseeable dividends. 2021 guidance, except for impairments (where a small write-back is forecast for H2), is retained on an organic basis. Medium-term targets are upgraded to incorporate acquisitions, increasing ROTE and reducing management’s CET 1 target. This is a positive update, demonstrating progress on strategy, with a strong signal of intent from the dividend accrual which is well ahead of expectations.
Aug 4 2021, 07:25 IST/BST