(Bloomberg) --

British businesses got more nervous about supply chain issues and skills shortages in recent weeks, according to NatWest Group Plc Chief Executive Officer Alison Rose. 

“Clearly there are challenges they are facing as a result of coming out of lockdown and the supply chain issues,” Rose said in an interview on Bloomberg TV on Monday. 

For now at least, firms are repaying the loans they took out during the pandemic, with about 92% of companies owing debts under the government-backed programs paying on time, Rose said. 

“This is really an issue around the speed of recovery and then confidence going into next year and the decisions businesses may be making around investing.”

Speaking ahead of the government’s green investment summit this week, Rose said NatWest had reduced its oil and gas exposure by 16% over last year, although the sector represents just 0.8% of its overall lending, according to Rose. She said the bank will try to work with customers that have credible plans to transition away from fossil fuels -- but will cut ties where this isn’t possible. 

 

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