Christopher Cant's questions to NatWest Group PLC (NWG) leadership • Q2 2025
Question
Christopher Cant of Autonomous Research inquired about the runoff profile of the government-guaranteed loan book and its effect on underlying growth. He also asked for views on potential prudential reviews and how a lower regulatory capital requirement might influence NatWest's own capital targets.
Answer
CEO Paul Thwaite confirmed that the government loan book is rolling off at a consistent quarterly rate. On capital, he agreed that reviews would focus on international competitiveness. CFO Katie Murray added that the bank would review its own capital targets if supervisory minimums change, especially considering the increase in nominal capital requirements from rising RWAs.