Overview

• NatWest posted a £1.8 billion pre-tax profit in Q1 2025, a 36% year-on-year increase that exceeded analyst expectations of £1.6 billion.
• Total income rose 3.8% to £4 billion, with net loans increasing by £3.4 billion, fueled by a pre-deadline surge in mortgage lending.
• The UK Government's stake in NatWest dropped below 2%, setting the stage for the bank's full return to private ownership by mid-2025.
• Operating expenses decreased by 8.5%, while credit impairment provisions were raised by £100 million to £3.5 billion in response to global economic uncertainty.
• NatWest upgraded its 2025 income and return on tangible equity guidance to the upper end of previous targets, citing strong customer activity and balance sheet resilience.