NatWest Group plc, together with its subsidiaries, provides banking and financial products and services in the United Kingdom and internationally. It operates through the Retail Banking, Private Banking, and Commercial & Institutional segments. The Retail Banking segment offers a range of banking products and related financial services, such as current accounts, mortgages, personal unsecured lending, and personal deposits, as well as mobile and online banking services. Its Private Banking segment provides banking, lending, and wealth management products for high-net-worth individuals and their business interests. The Commercial & Institutional segment consists of customer businesses under business banking, commercial mid-market, and corporates and institutions; and offers banking operations services in the Channel Islands, Isle of Man, Gibraltar, and Luxembourg, as well as products and solutions for businesses comprising start-ups, corporates, and large institutions. The company was formerly known as The Royal Bank of Scotland Group plc and changed its name to NatWest Group plc in July 2020. NatWest Group plc was founded in 1727 and is headquartered in Edinburgh, the United Kingdom.
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NatWest revives US expansion after UK rule changes
NatWest is seeking to rebuild its position in the US, helped by changes to UK rules on overseas banking activities, according to the Financial Times. The lender recently received approval from the US Federal Reserve to open a representative office in Connecticut that would act as a liaison with current and prospective US customers. This is the first notable effort by NatWest to expand in the US since the financial crisis, following revisions to ringfencing rules introduced by former chancellor Rachel Reeves. NatWest has adopted a stronger growth agenda since returning to full private ownership last year, when the UK government sold its remaining holding in the lender, a stake originally taken during a £45.5bn bailout. Earlier this year, the bank completed its £2.7bn acquisition of wealth manager Evelyn Partners as it looked to broaden its sources of income.
UK Lawmakers Write to Bank CEOs Over Crypto Account Refusals
The co-chairs of Parliament's Crypto and Digital Assets All-Party Parliamentary Group have written to the chief executives of every major UK bank, asking them to explain how they treat crypto and digital asset firms. The letter, sent Tuesday by Labour MP Gurinder Singh Josan and Lord Vaizey of Didcot, says the group has heard repeated instances where crypto and digital asset firms have struggled to open accounts with UK banks, alongside reports that several banks have restricted crypto-related payments. The co-chairs put six questions to each bank, covering policy, current service to crypto firms, transaction limits, driving factors, the impact of the incoming regime, and what the Government or regulators could do to help. UK banks including HSBC, Nationwide, NatWest, Santander and Starling have curbed crypto-related payments in recent years, with research from the UK Cryptoasset Business Council in January finding that banks were blocking or delaying an estimated 40% of attempted transfers to crypto exchanges. HM Treasury has already conceded the problem, with Economic Secretary Lucy Rigby telling Parliament in March that under the new regime the Government would not expect FCA-licensed firms to face restrictions from banks simply because of the sector they belong to.
NatWest Upgrades 2026 Guidance After Strong Second Quarter
NatWest Group upgraded its full-year 2026 guidance following a second quarter that delivered a return on tangible equity of 21%. Total income excluding notable items reached 4.4 billion pounds, up 5.4% from the first quarter, while operating profit rose 12.4% to 2.3 billion pounds. The bank now expects full-year income of around 17.9 billion pounds and capital generation before distributions and the impact of Evelyn Partners of more than 240 basis points. The CET1 ratio stood at 13.2% after the acquisition of Evelyn Partners, which added 71.7 billion pounds in assets under management and administration. Customer assets and liabilities grew 9.6% to 986.9 billion pounds, driven by broad-based lending and deposit growth.
HSBC chief says UK growth needs strong banks after profits swell by 23%
HSBC's group chief executive Georges Elhedery said that UK growth requires strong banks after the lender reported a 23% rise in first-half pre-tax profit to 19.5 billion US dollars. The result exceeded analyst forecasts of 18.9 billion dollars and rounded off a bumper reporting season for the UK's high street banks, with Lloyds, Barclays, and NatWest also beating expectations. The Trades Union Congress renewed calls for a higher bank tax surcharge, arguing the combined 29 billion pounds in first-half profits from the four banks showed they could afford to pay more. Elhedery responded that the Government's growth ambitions need confident businesses with access to financing, which strong banks provide. HSBC also announced a new share buyback of up to one billion dollars and said profit growth was driven by higher net interest income and fee income, partly offset by increased expected credit losses including a 400 million dollar fraud-related exposure.
NatWest Group declares 12.0p interim dividend totaling £955 million
NatWest Group has declared an interim dividend for 2026 totaling £955 million, representing 12.0 pence per ordinary share. The payout will be made on 18 September 2026 to all eligible shareholders registered by the close of business on 14 August 2026, prior to the ex-dividend date on 13 August 2026.
FTSE closes down 0.3% but posts weekly and monthly gains, buoyed by earnings
The London stock market closed lower on Friday but still managed to advance both for the week and the month, with the FTSE 100 index ending at 10,868.05 points, down 29.22 points or 0.27 percent, after retreating from record highs amid support from strong corporate earnings. NatWest shares jumped 3.2 percent after reporting first-half pre-tax operating profit of 4.3 billion pounds, beating expectations, and Sainsbury’s shares edged up 1 percent after agreeing to sell Argos for at least 120 million pounds. Meanwhile, IAG shares fell 1.5 percent after cutting its 2026 capacity guidance. Energy stocks rose 1.9 percent as Brent crude oil prices surged above 90 US dollars per barrel, pushing the sector to a gain of more than 15 percent in July. The Bank of England voted to hold interest rates, but three policymakers dissented, more than the market had expected, amid concerns over the economic impact of the conflict with Iran.
Mining and Finance Stocks Drive FTSE 100 to Record High
The FTSE 100 climbed to a fresh record high on Friday, led by gains in mining and financials sector stocks. The index advanced to 10,991.07, up 34.20 points or 0.31 percent at 10,931.47 nearly half an hour past noon. Natwest Group climbed 5.5 percent on strong second-quarter earnings, with profit attributable to ordinary shareholders rising 29.7 percent to 1.603 billion pounds. Among miners, Anglo American moved up 3.2 percent, while Antofagasta, Rio Tinto, and Glencore gained 2.2, 2.1, and 1.9 percent respectively. IG Group Holdings tanked nearly 11 percent after announcing a 1.3 billion dollar acquisition of U.S. fantasy sports operator Underdog and a pause in its share buyback programme.
NatWest profits rise 20% to £4.3 billion on AI and wealth push
NatWest reported a bigger-than-expected jump in first-half earnings, with operating pre-tax profit rising 20% year-on-year to £4.3 billion, beating the £4.1 billion analyst consensus. Income grew 11%, driven by its retail, commercial, and wealth management arms, while the cost-to-income ratio fell 2.8 percentage points, helped by around £250 million in gross cost savings from structural simplification and technology investments. Chief Executive Paul Thwaite highlighted the bank’s AI drive, including deploying AI tools to 60,000 staff and launching the first agentic AI assistant, as well as the recent acquisition of wealth management firm Evelyn Group, which he said positions NatWest to capture a fast-growing opportunity in financial planning and investment advice.
NatWest Q2 profit climbs 29%, lifts 2026 income view and plans earlier buybacks
NatWest Group reported a 29% rise in second-quarter operating profit before tax to 2.285 billion pounds, driven by a 12.5% increase in total income to 4.504 billion pounds. Profit attributable to ordinary shareholders grew 29.7% to 1.603 billion pounds, with basic earnings per share rising to 20.1 pence. The British banking and insurance holding company lifted its fiscal 2026 total income excluding notable items outlook to around 17.9 billion pounds, up from a prior expectation at the top end of a 17.2 billion to 17.6 billion pound range, and announced an interim dividend of 12.0 pence per share. NatWest also said it will consider share buybacks from full year 2026, six months earlier than previously planned, while maintaining its 2028 target for return on tangible equity above 18% and customer asset and liability growth above 4% annually from end-2025.
The UK's FTSE 100 index rose 0.59% on Tuesday, driven by a strong rally in Unilever shares after the consumer goods giant reported better-than-expected earnings and raised its full-year guidance. The benchmark was up 63.90 points at 10,845.65 nearly half an hour past noon. Unilever climbed nearly 8% as it upgraded its full-year underlying sales growth guidance to the 4% to 6% range from its previous expectation of growth at the bottom end of the range, supported by around 3% underlying volume growth, and reported its best quarter of sales volume growth in 16 years. Other notable gainers included Admiral Group up over 4%, Relx up 3.6%, and Compass Group, Diageo, Imperial Brands, Croda International, Babcock International, Reckitt Benckiser, The Sage Group, and Experian climbing between 2.5% and 3%. Barclays Group shed more than 5% after reporting increased second-quarter operating costs, while Natwest Group and Lloyds Banking Group both eased about 1.3%. In economic news, UK shop price inflation rose 0.9% year-on-year in July 2026, missing expectations of 1.2% and marking the slowest increase since December 2025.
Open Banking shifts from awareness to trust as businesses choose long-term partners
Open Banking has matured beyond awareness, with one in five UK consumers and businesses now actively using the technology and millions of payments processed monthly. Research from Payit by NatWest shows 42% of UK businesses cite improved security and fraud prevention as a key benefit, while almost a quarter spend over six hours monthly managing customer payment data. Almost all utilities and telecoms firms still face payment disruptions, highlighting room for modernization. Businesses are now selecting providers based on trust, resilience, and long-term support rather than just functionality, with Payit combining fintech agility with NatWest's scale and security.
UK banks set to report profit growth but may warn on bad loans amid Iran war
Barclays, Lloyds Banking Group, and NatWest are expected to report higher first-half profits this week, but experts caution they may increase provisions for bad loans as the Iran war pushes up living costs. Barclays is forecast to post a pre-tax profit of about £5.9 billion, up from £5.2 billion a year earlier, while Lloyds is expected to report £4.1 billion, up from £3.5 billion. KPMG’s UK head of banking Steve Payne said the conflict is likely to cause at least marginal increases in bad loan provisions due to higher fuel and food costs. Interactive Investor’s Richard Hunter added that customer defaults and impairment charges will be central to sentiment, even as higher-for-longer interest rates could benefit the sector.
UK Lawmakers Launch Inquiry Into Crypto Banking Access
A cross-party group of UK lawmakers has launched a parliamentary inquiry into the banking problems dogging the country's crypto industry. The Crypto and Digital Assets All-Party Parliamentary Group, co-chaired by Lord Vaizey of Didcot and Labour MP Gurinder Singh Josan, will probe why firms struggle to open accounts and why banks curb crypto-related payments. The inquiry comes weeks after the UK finalized its new crypto regulatory framework and will test whether banking barriers could undermine the Government's goal of making the country a global leader in digital assets. It will examine access to accounts and services, including insurance, along with transfer limits and payment blocks imposed by banks such as HSBC, Nationwide, NatWest, Santander and Starling Bank. The APPG is taking written evidence until August 31 before publishing a report with recommendations ahead of October 2027, when the new crypto regime becomes mandatory.
Sainsbury’s surrenders UK banking licence, shifts to partner-led model with NatWest
Sainsbury’s has surrendered its UK banking licence and rebranded its financial services business as Sainsbury’s Money, transitioning to a partner-led model under which NatWest has acquired its core banking assets. The supermarket, which became the first major British chain to operate its own bank in 1997, sold its credit card, loan, and savings portfolios to NatWest after announcing a gradual withdrawal from banking in January 2024, with legal ownership of customer accounts transferring in May 2025. The structural transformation was completed on 1 July 2026, with new Nectar credit cards, savings accounts, and personal loans now distributed under the Sainsbury’s brand while NatWest provides the underlying banking infrastructure. This move reflects a broader industry trend where affinity brands like Tesco with Barclays and M&S with HSBC are forming partnerships with incumbents rather than operating as independent banks, allowing retailers to focus on loyalty programs and customer relationships while established banks manage back-end operations. However, such partnerships may strengthen incumbent banks’ market position and make it harder for challenger banks to compete, potentially reducing pressure to innovate in customer experience and rewards.
Andy Burnham set to become UK PM as policy agenda remains unclear
Andy Burnham appears set to become the UK's next prime minister after quickly securing enough support to succeed Keir Starmer as Labour leader, but uncertainty over his policy agenda is raising questions among lawmakers and investors, Bloomberg reported on Saturday. Burnham secured backing from enough Labour MPs within two days to effectively end the leadership contest before any rival could emerge. Despite the swift show of support, many allies remain unclear about his plans for government, according to the report. The former Greater Manchester mayor has so far outlined broad priorities, including devolving more fiscal powers to local authorities and reshaping the way the country is governed, but has offered few details on how those proposals would be implemented. Bloomberg reported that even close allies have struggled to gain insight into Burnham's policy platform, with decisions being developed by a small group of advisers. Cabinet appointments are also expected to be announced only shortly before he takes office. The lack of clarity has fueled uncertainty over key economic policies. Burnham initially hesitated before backing the government's existing fiscal rules, while proposals to split the Treasury were reportedly considered before being dropped. Investors are expected to closely watch whether the incoming administration maintains fiscal discipline while responding to pressure from Labour lawmakers to reverse some of the spending cuts pursued under Starmer. John Stopford, head of multi-asset income at Ninety One, said markets recognize that any new government will still face fiscal constraints, according to Bloomberg. Some Labour MPs have also expressed concern that delaying key policy announcements and cabinet decisions could make it more difficult for the new administration to maintain party unity once in office. Burnham has pledged to lead a more inclusive government than his predecessor, though some lawmakers have questioned whether that promise can be achieved without greater transparency during the transition process.
Prudential Financial, T. Rowe Price, Franklin Resources, NatWest Group, and British American Tobacco are highlighted as solid dividend stocks for July, with yields ranging from 3.9% to 5.4%. Prudential Financial raised its quarterly dividend to $1.40 for 2026, marking its 18th consecutive year of increases, and trades at a trailing PE of 12. T. Rowe Price lifted its quarterly payout to $1.30 for 2026, with Q1 2026 adjusted EPS of $2.52 beating consensus. Franklin Resources posted fiscal Q2 EPS of $0.71, well above the $0.55 consensus, and swung to long-term net inflows of $16.9 billion. NatWest Group offers a trailing yield of 4.9% and raised 2026 income guidance to the top end of £17.2 to £17.6 billion. British American Tobacco increased its 2026 quarterly rate to $0.834851 and guides to 5% to 8% adjusted diluted EPS growth in 2026.
NatWest finalises £2.7bn acquisition of Evelyn Partners
NatWest Group has completed its £2.7 billion acquisition of British wealth manager Evelyn Partners. The combined entity holds £127 billion in assets under management and administration and £188 billion in customer assets and liabilities. The deal is expected to boost NatWest's fee income by about 20% before revenue synergies, with annual run-rate cost synergies of around £100 million and integration costs of about £150 million. Chris Kenny has been appointed chief executive of Evelyn Partners, reporting to NatWest Group private banking and wealth management CEO Emma Crystal. NatWest Group CEO Paul Thwaite said the merger creates the UK's leading private banking and wealth management business, serving over 20 million customers.
Barclays, HSBC, Lloyds, and NatWest first to adopt Swift’s new international consumer payments framework
Barclays, HSBC, Lloyds, and NatWest are among the first banks globally to go live with Swift’s new consumer payments initiative, transforming international transfers for UK customers. The framework ensures the full amount arrives with no deductions, money can arrive within minutes or instantly where local systems allow, fees and exchange rates are shown upfront, and senders can track transfers end-to-end. The four banks are the first in the UK to implement the initiative, initially benefiting customers receiving money from Australia, China, India, and Turkey, and those sending to Australia. The initiative is already supported by more than 60 banks across 25 countries.
FCA to regulate Buy Now Pay Later from July 2026, reshaping retail finance
The UK Financial Conduct Authority will regulate Deferred Payment Credit, commonly known as Buy Now Pay Later, from 15 July 2026, introducing affordability checks, clearer consumer disclosures, and access to the Financial Ombudsman Service. One in five UK adults used DPC in the 12 months to May 2024, up from 17% in 2022, according to the FCA. Retailers will need to ensure their third-party providers are FCA-authorised and capable of meeting new operational and compliance standards. Existing providers can continue offering DPC under a Temporary Permissions Regime while seeking full authorisation. George Toumbev, Chief Commercial Officer at NatWest Boxed, said early preparation can turn the regulatory shift into an opportunity to build stronger, more trusted retail finance experiences.
UK Finance and major banks develop digital verification service
UK Finance is supporting several major banks to develop a financial services-led digital verification service. Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, NatWest Group and Santander are taking part. The service aims to let customers verify personal details like name, age or address through their banking app, with verified information shared securely with third parties only with explicit consent. It could be used for online purchases, age verification, property transactions or account opening without sharing physical documents. A live pilot in a controlled real-world environment is planned in the coming months.
NatWest Group Partners with Cleareye.ai to Modernize Trade Operations
NatWest Group has entered into a strategic partnership with artificial intelligence specialist Cleareye.ai to modernize its trade operations and enhance financial crisis management. The UK-focused bank, which serves over 20 million customers and pays a quarterly dividend of about $0.22 per share for a yield of 5.22%, will implement ClearTrade, an AI-powered platform that automates extraction and classification of critical data from complex trade documents. The solution is designed to streamline document workflows and enable robust compliance and Trade-Based Money Laundering checks. According to Michael Gilham, Trade Product Lead at NatWest, the partnership will help customers trade in foreign markets more quickly and with greater certainty while delivering more personalized service.