NatWest Group PLC Faces IT Outage and Regulatory Notice
NatWest Group PLC has experienced an IT outage affecting its banking app, resulting in millions of customers being unable to access their accounts. The company has apologized for the issue and is conducting an investigation to determine its cause.
Regulatory Notice Received
NatWest has also received a regulatory notice related to breaches of rules regarding charges and disclosure. The company is required to address these issues and implement corrective measures.
Market Impact
The incidents are likely to have had a negative impact on the company’s reputation and may have affected its stock price. However, the company’s stock price has remained relatively stable in recent times, hovering around its 52-week high. The overall market has been slightly higher, driven by positive economic data from the US and eurozone.
Key Developments
- IT outage affecting NatWest banking app
- Regulatory notice received over breaches of rules regarding charges and disclosure
- Company apologizes for IT outage and is investigating its cause
- Stock price remains relatively stable, hovering around 52-week high