Its lending for the first six months of this year was up on the latter half of 2021 however, when £18.3bn was completed.
Additionally, the bank has issued £1.4bn in green mortgages since launching in 2020 with £661m completed in H1 2022.
In Q2 alone, Natwest completed £9.8bn in gross new mortgage lending.
Natwest said its mortgage portfolio “grew steadily” in the period, benefiting from “buoyant housing market activity” and customers remortgaging ahead of rate rises.
Its buy-to-let portfolio also improved. Natwest said this growth was expected and within its risk appetite. The buy-to-let portfolio rose from £14.6bn to £16.5bn.
As at 30 June 2022, £121.8bn, 63 per cent, of the total residential mortgages portfolio had Energy Performance Certificate (EPC) data available, which was a slight uptick on the 62 per cent proportion of the portfolio at 31 December 2021. This amounted to £116.2bn at the time.
Some 40 per cent of properties were rated as EPC C or above, compared to 38 per cent at the end of last year.
Additionally, EPC data became available for Natwest’s private banking portfolio in Q2.
Natwest’s total income was £404m, or 18.8 per cent, higher than the same period last year. The bank said this reflected a higher deposit income supported by base rate rises as well as strong mortgage balance growth.
The group’s profit before tax totalled £2.6bn in H1, up from £2.3bn last year.
Alison Rose (pictured), chief executive, said the groups had “delivered a strong performance” in the first half of the year and was building on two years of progress against its strategic priorities .
She continued: “We are growing our lending to customers and continuing our £3bn investment programme to create a simpler and better banking experience whilst delivering sustainable dividends and returns for our shareholders.
“We know that continued increases in the cost of living are impacting people, families and businesses across the UK and we have put in place a range of targeted measures to support those who are likely to need it most. Our strong levels of profitability and capital generation mean we are well positioned to provide this support.”
Rose said that by “building deeper relationships” with customers at every stage of their lives it would “deliver sustainable growth and help them to thrive in a challenging environment”.
Natwest also announced the appointment of Simon Lowe as chief financial officer, effective from 28 July.
