Research analysts who have asked questions during NatWest Group earnings calls.
Guy Stebbings
BNP Paribas
4 questions for NWG
Also covers: BARC.L, BCS, LYG
AR
Aman Rakkar
Barclays PLC
3 questions for NWG
Also covers: HSBC, LYG
AC
Andrew Coombs
Citigroup
3 questions for NWG
Also covers: ATMP, BCS, DB +3 more
CC
Christopher Cant
Autonomous Research
3 questions for NWG
Also covers: BARC.L, BCS, LYG
Sheel Shah
J.P. Morgan
3 questions for NWG
Also covers: LYG
Ad
Alvaro de Tejada
Morgan Stanley
2 questions for NWG
Also covers: BBVA, BCS, CAIXY +1 more
AG
Amit Goel
Mediobanca S.p.A.
2 questions for NWG
Also covers: BCS, HSBC, JBAXY +2 more
BT
Benjamin Toms
RBC Capital Markets
2 questions for NWG
Also covers: BARC.L, BBVA, BCS +3 more
Daniel David
Autonomous Research
2 questions for NWG
Also covers: BCS, DB
EF
Ed Firth
Keefe, Bruyette & Woods (KBW)
2 questions for NWG
EH
Edward Hugo Firth
Stifel
2 questions for NWG
Also covers: BARC.L, HSBC, LYG
Jonathan Pierce
Jefferies
2 questions for NWG
Also covers: ATMP, BCS, LYG
JR
Jonathan Richard Pierce
Numis
2 questions for NWG
Also covers: BARC.L, BCS, LYG
RS
Robert Smalley
Verition Fund Management LLC
2 questions for NWG
Also covers: BCS, DB
Robin Down
HSBC
2 questions for NWG
Also covers: ATMP, BARC.L, BCS +1 more
AS
Alvaro Serrano
Morgan Stanley
1 question for NWG
Also covers: ATMP, BARC.L, BBVA +3 more
AS
Alvaro Serrano Saenz de Tejada
Morgan Stanley
1 question for NWG
Also covers: BCS, SAN
AR
Arman Rakhar
Barclays
1 question for NWG
BC
Benjamin Cavan Roberts
Goldman Sachs
1 question for NWG
BC
Benjamin Caven-Roberts
The Goldman Sachs Group, Inc.
1 question for NWG
Also covers: LYG
CK
Chris Kent
Autonomous
1 question for NWG
Fahed Kunwar
Redburn Atlantic
1 question for NWG
Also covers: MA, V
JN
Jason Napier
UBS Group AG
1 question for NWG
Also covers: BCS, HSBC, LYG
RS
Raul Sinha
JPMorgan Chase & Co.
1 question for NWG
Also covers: HSBC
Robert Noble
Deutsche Bank AG
1 question for NWG
Also covers: BCS, HSBC
Recent press releases and 8-K filings for NWG.
NatWest Group plc Announces 2025 Bank of England Stress Test Results
NWG
- NatWest Group plc announced the results of the 2025 Bank of England stress test on December 2, 2025.
- The stress test, which used the Group's balance sheet as of December 31, 2024, projected a low point Common Equity Tier 1 (CET1) ratio of 11.1% (actual: 13.6%) and a low point Tier 1 leverage ratio of 4.7% (actual: 5.0%).
- Both projected ratios were significantly above the stress minimum requirement, indicating that no strategic management actions would be necessary.
Dec 2, 2025, 1:23 PM
NatWest Group Provides Business Update at JPMorgan UK Leaders Conference
NWG
Guidance Update
New Projects/Investments
Dividends
- NatWest Group expects income for this year to be around £16.3 billion and return on tangible equity (ROTCE) to be greater than 18%, reflecting strong operating performance and multiple guidance upgrades.
- The company anticipates an additional £1 billion or so of incremental Net Interest Income (NII) from its structural hedge next year, though this will be partially offset by an estimated £300 million reduction in income due to two expected rate cuts, bringing the terminal rate to approximately 3.5%.
- NatWest Group is actively reviewing its capital target range of 13-14% in light of an upcoming Bank of England review in early December, with a potential update on 2026 and 2028 targets expected in February. The dividend payout ratio was raised to 50% last year and is not expected to increase further.
- The company has demonstrated strong growth across key segments, including greater than 4% compound lending growth over the last seven years, 6% year-to-date growth in corporate lending, and a 15% increase in Assets Under Management (AUM) to £56 billion this year.
Nov 19, 2025, 11:15 AM
NatWest Group Updates on Performance, Guidance, and Strategic Focus
NWG
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- NatWest Group upgraded its income guidance for the current year to approximately £16.3 billion and expects a Return on Tangible Equity (ROTCE) of greater than 18%.
- The company reported strong balance sheet growth, including greater than 4% compound lending growth over the last seven years and 15% AUM growth this year, reaching £56 billion.
- Management is focused on cost discipline, with cost growth expected to be around 2% this year, and plans to invest approximately £1.1 billion, mainly in technology.
- NatWest Group is reviewing its capital targets, currently set at 13-14%, with potential updates for 2026 and 2028 guidance to be provided in February.
Nov 19, 2025, 11:15 AM
NatWest Group Discusses Strong Performance and Future Outlook at JPMorgan Conference
NWG
Guidance Update
Dividends
- NatWest Group reported strong current performance, including an almost 19% return on tangible equity, trading at 7.5 times P/E, and 1.3 times book.
- The company has upgraded its income guidance to approximately £16.3 billion for the current year and targets greater than 18% Return on Tangible Equity (ROTE).
- Management expects a £1 billion incremental Net Interest Income (NII) tailwind from its structural hedge next year, though anticipated rate cuts could reduce income by £300 million.
- NatWest is reviewing its capital target range of 13%-14% in anticipation of a Bank of England review in December, with a potential for a lower target, while maintaining a 50% dividend payout ratio and commitment to returning excess capital.
Nov 19, 2025, 11:15 AM
NatWest Group Reports Strong Q3 2025 Performance and Upgrades Full-Year Guidance
NWG
Earnings
Guidance Update
Legal Proceedings
- NatWest Group reported a strong financial performance in Q3 2025, with total income of £4,332 million and profit attributable to ordinary shareholders of £1,598 million. The Return on Tangible Equity (RoTE) was 22.3%.
- The company has upgraded its 2025 guidance, now expecting income excluding notable items to be around £16.3 billion and a Return on Tangible Equity of greater than 18.0%.
- Balance sheet metrics remained robust, with a Common Equity Tier 1 (CET1) ratio of 14.2% as of September 30, 2025 , and Tangible Net Asset Value (TNAV) per share increasing by 11 pence to 362 pence in Q3 2025.
- Efficiency improved, with the year-to-date cost:income ratio (excluding litigation and conduct) at 47.8%, a 5% improvement compared to 52.8% in the same period of 2024.
- Updates on legal proceedings include the SDNY granting summary judgment to defendants on USD LIBOR liability, the US Court of Appeal reinstating claims in the Euribor case, and the SDNY again dismissing the odd lot corporate bond trading antitrust complaint.
Oct 24, 2025, 12:48 PM
NatWest Group plc Reports Strong Q3 2025 Performance and Updates 2025 Outlook
NWG
Earnings
Guidance Update
Share Buyback
- NatWest Group plc reported a profit attributable to ordinary shareholders of £1,598 million and total income of £4,332 million for Q3 2025.
- The company achieved a Return on Tangible Equity (RoTE) of 22.3% and basic earnings per share of 19.8p for Q3 2025.
- NatWest Group updated its 2025 outlook, expecting income excluding notable items to be around £16.3 billion and a Return on Tangible Equity of greater than 18.0%.
- The Common Equity Tier 1 (CET1) ratio stood at 14.2% in Q3 2025, an increase of approximately 60 basis points from Q2 2025.
- Net loans to customers reached £415.3 billion and customer deposits were £435.5 billion at the end of Q3 2025.
Oct 24, 2025, 11:38 AM
NatWest Group Reports Strong Q3 2025 Results and Upgrades Full-Year Guidance
NWG
Earnings
Guidance Update
Share Buyback
- NatWest Group reported strong financial performance for the first nine months of 2025, with income growing 12.5% to £12.1 billion and attributable profit reaching £4.1 billion, leading to a return on tangible equity of 19.5%.
- The company upgraded its full-year 2025 guidance, now expecting income of around £16.3 billion and returns greater than 18%.
- Capital generation remained robust, with a CET1 ratio of 14.2% at the end of Q3 2025, driven by 202 basis points of capital generated for the first nine months, and the company is progressing with a £750 million share buyback program.
- Lending growth was broad-based, with total lending increasing 4.4% to £388 billion since year-end, including significant growth in mortgage, unsecured, and commercial and institutional lending.
Oct 24, 2025, 8:00 AM
NatWest Group Reports Strong Q3 2025 Results and Raises Full-Year Guidance
NWG
Guidance Update
Earnings
Share Buyback
- NatWest Group reported a strong Q3 2025 with an operating profit before tax of £2.2 billion and a return on tangible equity (RoTE) of 22.3%. For the first nine months of 2025, income grew 12.5% to £12.1 billion, and attributable profit reached £4.1 billion.
- The company has revised its full-year 2025 guidance, now expecting total income (excluding notable items) to be around £16.3 billion and RoTE to be greater than 18%.
- Lending has grown 4.4% since the year-end to £388 billion, with broad-based growth across all three businesses, and deposits grew 0.8% to £435 billion for the first nine months of 2025.
- NatWest generated 202 basis points of capital for the first nine months, ending Q3 2025 with a CET1 ratio of 14.2%. The company is also progressing with a £750 million share buyback, with 50% completed.
Oct 24, 2025, 8:00 AM
NatWest Group Reports Strong Q3 2025 Results and Upgrades Full-Year Guidance
NWG
Earnings
Guidance Update
Share Buyback
- NatWest Group reported strong financial performance for the first nine months of 2025, with income growing 12.5% to $12.1 billion and an attributable profit of €4.1 billion. For Q3 2025, income excluding notable items was up 3.9% at £4.2 billion, contributing to an operating profit before tax of £2.2 billion and a return on tangible equity of 22.3%.
- Lending grew 4.4% since the year-end to £388 billion for the first nine months, with broad-based growth across all three businesses. Deposits were broadly stable at $435 billion for the first nine months and £435 billion for Q3.
- The company ended Q3 2025 with a Common Equity Tier 1 (CET1) ratio of 14.2%, generating 202 basis points of capital for the nine months. A new share buyback of $750 million was announced at the half-year, with 50% already completed.
- NatWest Group revised its full-year 2025 guidance, now expecting total income (excluding notable items) to be around £16.3 billion and return on tangible equity to be greater than 18%.
Oct 24, 2025, 8:00 AM
NatWest Group Reports Strong Q3 2025 Results and Raises Full-Year Guidance
NWG
Earnings
Guidance Update
Share Buyback
- NatWest Group reported a strong financial performance for the first nine months of 2025, with income growing 12.5% to GBP 12.1 billion and attributable profit reaching GBP 4.1 billion. The return on tangible equity (RoTE) for this period was 19.5%. For Q3 2025, income (excluding notable items) was GBP 4.2 billion, and RoTE was 22.3%.
- The company upgraded its full-year 2025 guidance, now expecting total income to be around GBP 16.3 billion and return on tangible equity to be greater than 18%.
- NatWest Group demonstrated strong capital generation, accumulating 202 basis points for the first nine months of 2025 and ending Q3 with a CET1 ratio of 14.2%. The company is also progressing with a GBP 750 million share buyback, with 50% completed.
- Lending grew 4.4% since the year-end to GBP 388 billion for the first nine months, with broad-based growth across all three businesses, while deposits remained broadly stable at GBP 435 billion.
- The company continues to focus on bank-wide simplification, which contributed to a five percentage point reduction in the cost-income ratio to 47.8%.
Oct 24, 2025, 8:00 AM
Quarterly earnings call transcripts for NatWest Group.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more