NatWest coronavirus support measures
9th July 2020
Our fee-free cash delivery service to vulnerable customers has seen nearly £2 million delivered to homes across the UK. We were the first bank to introduce this service and it has ensured that vulnerable and isolated customers have still had access to cash during these difficult times.
As of 26th June we have approved more than £9 billion worth of Government backed loans to businesses across the UK.
And finally our NatWest Markets team recently helped HMT to raise £7 billion in the form of a 41-year government bond to pay for support such as furloughing workers, creating additional capacity in the NHS and covering reduced tax receipts.
Overall we are doing all we can to help our customers and the economy. We don’t always get it right so please continue to engage with us, but, as a purpose-led organisation, we are working hard to support the economy, people and families across the UK.
The sustainable bond market will play a significant and growing role as we transition to a low carbon economy. I am pleased to say that while sustainable finance is still a relatively modest part of UK capital markets, we were the number 1 bookrunner in this space for UK corporates at the end of H1 (according to Dealogic data which includes all green, social, sustainability and transition bonds for UK-domiciled companies).
While test cricket makes a welcome return in England next week, we understand that many sports clubs and organisations all over the country are experiencing challenges due to the pandemic. That’s why we are continuing to encourage cricket clubs to take up our financial health check to help them with their finances. We would like to thank the many politicians and stakeholders who have highlighted these health checks on their social media channels, and we would love to see this continue.
At the start of the crisis we committed to match fund donations made by our customers to the National Emergencies Trust (NET), aiming to contribute a total donation of £10 million. We are close to reaching our target but any help you can give us to promote our fundraising would be greatly appreciated. The NET distributes money raised through a number of charitable organisations including local community foundations, to ensure it reaches those who need it most.
Support for Government-backed lending schemes
As of June 26th, we have approved 195,737 applications with a cumulative value of £5.9bn under the BBL scheme (20% market share by value)
On CBILS we have approved more than 13,655 applications with a total value of more than £3.2bn (19% market share), while we have approved £655m through CLBILS (28% market share)
For larger customers, the bank has facilitated more than £7.02bn through CCFF and has a market share of 21% of CCFF issuances from the purchases by the BoE
Please rest assured that I and my team are here to support you, until such time as the Experts in Residence are back in touch and see below for relevant links.
Head of Enterprise & Community Finance