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NatWest Group (NWG.L) delivered an annual increase in profits for full-year 2025, as it starts 2026 “from a position of strength,” supported by its recently announced acquisition of wealth manager Evelyn Partners that is expected to bolster the group’s private banking and wealth management business.
The UK-headquartered banking group’s profit attributable to ordinary shareholders climbed year over year to 5.48 billion pounds sterling for the 12 months ended Dec. 31, 2025, from 4.52 billion pounds, according to the Friday earnings release.
Operating profit before tax grew 24.4% to 7.71 billion pounds. Total income also surged over the period to 16.64 billion pounds from 14.70 billion pounds, with net interest income rising 13.8% to 12.83 billion pounds.
In the fourth quarter of 2025, attributable profit rose on a yearly basis to 1.39 billion pounds from 1.25 billion pounds, while total income jumped to 4.32 billion pounds from 3.83 billion pounds.
“NWG had a strong 2025, and the bank’s structural hedge should provide additional momentum as we go through the year. Further significant growth in deposits could provide an additional positive catalyst not yet reflected in consensus,” analysts at RBC Capital Markets said in a quick take note, with a neutral sentiment on the group. “The Evelyn transaction could be transformational, but only for those prepared to take a medium term view.”
The board proposed a final dividend of 0.23 pound per share, up from 0.155 pound per share a year ago. This brings total dividend for 2025 to 0.325 pound per share, up 51% from the previous year.
Looking forward, NatWest forecasts a total income, excluding notable items, of between 17.2 billion pounds and 17.6 billion pounds for 2026. The group also plans to launch a share buyback program of 750 million pounds in the first half.
NatWest shares were down 3% in London on Friday midday trade.