However, the company's overall net income still dipped by £49million to £14.7billion despite enjoying a slightly higher net interest margin, which boosted net interest income by 2 per cent to £11.3billion.
Good results: NatWest Group's profits surpassed forecasts last year after it added about 500,000 new customers and grew both borrowing and deposit levels.
A total of 1.2 million Britons took advantage of elevated interest rates to switch bank accounts last year, the second successive year it has exceeded one million, according to recent figures from the Current Account Switch Service.
NatWest Group's profits surpassed forecasts last year after it added about 500,000 new customers and grew both borrowing and deposit levels.
Paul Thwaite, chief executive of NatWest, said: 'We welcomed around 500,000 new customers to NatWest Group, grew each of our three customer businesses and delivered growth on both sides of the balance sheet.'.
