NatWest Group plc (NWG) Financial Statements

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NatWest Group financial statements at a glance

NatWest Group reported revenue of 16.61 billion GBP for fiscal year 2025 (ended December 31, 2025), up 13.3% from fiscal year 2024. Net income was 5.48 billion GBP, a net margin of 33.0%, and diluted earnings per share were 0.67 GBP.

At the end of fiscal year 2025 it had total assets of 714.55 billion GBP, total liabilities of 671.94 billion GBP and shareholders' equity of 42.60 billion GBP, with cash of 85.35 billion GBP and total debt of 71.83 billion GBP.

Its operations brought in 7.07 billion GBP of cash; capital spending was 1.28 billion GBP, leaving free cash flow of 5.79 billion GBP.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in GBP; latest fiscal year ended December 31, 2025.

NWG logo

NatWest Group plc

NWGUnited Kingdom
Financial Services
GBP (Local)

Income Statement

Annual • GBP

Total Revenue
16.61B
Prev Year: 14.65B
YoY: +13.3%
Net Interest Income
12.83B
Prev Year: 11.28B
YoY: +13.8%
Interest Income
25.70B
Prev Year: 25.19B
YoY: +2.0%
Interest Expense
12.87B
Prev Year: 13.91B
YoY: -7.5%
General and Administrative Expense
1.42B
Prev Year: 1.45B
YoY: -1.6%
Rent and Landing Fees
1.28B
Prev Year: 1.21B
YoY: +6.1%
Operating Revenue
16.61B
Prev Year: 14.65B
YoY: +13.3%
Special Income Charges
-203.00M
Prev Year: -264.00M
YoY: +23.1%
Write-offs
-
Pre-tax Income
7.71B
Prev Year: 6.20B
YoY: +24.4%
Impairment of Capital Assets
-
Provision for Income Taxes
1.87B
Prev Year: 1.47B
YoY: +27.9%
Restructuring and Mergers Acquisition
-
Net Income Common Stockholders
5.48B
Prev Year: 4.52B
YoY: +21.2%
Net Income
5.83B
Prev Year: 4.80B
YoY: +21.4%
Net Income Including Non-Controlling Interests
5.83B
Prev Year: 4.81B
YoY: +21.3%
Net Income from Continuing Operations
5.83B
Prev Year: 4.73B
YoY: +23.3%
Noncontrolling Interests
-3.00M
Prev Year: -9.00M
YoY: +66.7%
Diluted NI Available to Com Stockholders
5.48B
Prev Year: 4.52B
YoY: +21.2%
Basic EPS
0.68
Prev Year: 0.535
YoY: +27.1%
Diluted EPS
0.674
Prev Year: 0.531
YoY: +26.9%
Weighted Average Shares (basic)
8.06B
Prev Year: 8.45B
YoY: -4.6%
Weighted Average Shares (diluted)
8.13B
Prev Year: 8.51B
YoY: -4.5%
Net Income from Continuing and Discontinued Operation
5.83B
Prev Year: 4.80B
YoY: +21.4%
Normalized Income
5.98B
Prev Year: 4.92B
YoY: +21.6%
Reconciled Depreciation
1.15B
Prev Year: 1.06B
YoY: +9.1%
Net Income from Continuing Operation Net Minority Interest
5.83B
Prev Year: 4.72B
YoY: +23.5%
Total Unusual Items Excluding Goodwill
-203.00M
Prev Year: -264.00M
YoY: +23.1%
Total Unusual Items
-203.00M
Prev Year: -264.00M
YoY: +23.1%
Tax Rate for Calcs
0.243
Prev Year: 0.237
YoY: +2.5%
Tax Effect of Unusual Items
-49.33M
Prev Year: -62.57M
YoY: +21.2%
Otherunder Preferred Stock Dividend
352.00M
Prev Year: 283.00M
YoY: +24.4%
Preferred Stock Dividends
-
Other Special Charges
203.00M
Prev Year: 264.00M
YoY: -23.1%
Gain on Sale of Securities
-89.00M
Prev Year: -85.00M
YoY: -4.7%
Operating Expense
8.10B
Prev Year: 7.85B
YoY: +3.1%
Other Operating Expenses
123.00M
Prev Year: 142.00M
YoY: -13.4%
Depreciation and amortization
1.15B
Prev Year: 1.06B
YoY: +9.1%
Depreciation
1.15B
Prev Year: 1.06B
YoY: +9.1%
Selling General and Administrative
1.42B
Prev Year: 1.45B
YoY: -1.6%
Values in GBP

NatWest Group key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue16.6B GBP14.7B GBP14.8B GBP13.4B GBP10.3B GBP
Net income5.5B GBP4.5B GBP4.4B GBP3.3B GBP3.0B GBP
Diluted EPS0.67 GBP0.53 GBP0.48 GBP0.34 GBP0.27 GBP
Total assets714.6B GBP708.0B GBP692.7B GBP720.1B GBP782.0B GBP
Total liabilities671.9B GBP668.6B GBP655.5B GBP683.6B GBP740.2B GBP
Shareholders' equity42.6B GBP39.4B GBP37.2B GBP36.5B GBP41.8B GBP
Cash85.3B GBP93.1B GBP104.5B GBP145.1B GBP177.8B GBP
Total debt71.8B GBP65.9B GBP60.1B GBP55.3B GBP58.3B GBP
Operating cash flow7.1B GBP1.8B GBP-17.4B GBP-43.6B GBP53.7B GBP
Capital spending1.3B GBP1.1B GBP1.6B GBP1.4B GBP1.4B GBP
Free cash flow5.8B GBP694.0M GBP-19.0B GBP-45.0B GBP52.3B GBP

In GBP. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.

Questions and answers

What was NatWest Group's revenue in fiscal year 2025?

16.61 billion GBP, up 13.3% from 14.65 billion GBP in fiscal year 2024.

How much profit does NatWest Group make?

NatWest Group reported net income of 5.48 billion GBP for fiscal year 2025 (33.0% of revenue).

How much cash and debt does NatWest Group have?

At the end of fiscal year 2025: cash of 85.35 billion GBP and total debt of 71.83 billion GBP.

What is NatWest Group's free cash flow?

5.79 billion GBP in fiscal year 2025 (operating cash flow of 7.07 billion GBP minus capital spending of 1.28 billion GBP).

MoreNatWest Group stock overviewNatWest Group executive teamNatWest Group shareholders
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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