Benjamin Caven-Roberts's questions to NatWest Group PLC (NWG) leadership • Q1 2025
Question
Benjamin Caven-Roberts from Goldman Sachs asked for the rationale behind the Q1 impairment charge and the maintenance of a £0.3 billion post-model adjustment (PMA) amid global trade tensions. He also questioned where the bank sees the most attractive areas for incremental capital allocation.
Answer
Executive Paul Thwaite stated that asset quality remains strong, with the 19 basis point charge reflecting no underlying deterioration. The PMA is prudently maintained due to heightened global uncertainty. He affirmed that the capital allocation strategy is unchanged, continuing to focus on deploying capital to attractive return opportunities in mortgages, unsecured lending, and the corporate and institutional business.