Rolling coverage of the latest economic and financial news
NatWest has beat expectations this morning with a 24% rise in pre-tax profit to £7.7bn.
The results come days after the bank announced a £2.7bn deal to buy Evelyn Partners, one of the biggest wealth managers in the country and NatWest’s biggest deal since its government bailout in 2008.
Result beat expectations across the board, with profits coming in 10% ahead. The standout was lending income, while tighter cost control and lower bad-loan charges gave profits an extra lift.
The balance sheet also looks healthier, with capital ticking up (though there was a benefit from the smaller-than-hoped buyback announced earlier in the week). Looking ahead, management’s 2026 outlook looks cautious rather than ambitious, but that’s typical for NatWest and leaves room for upgrades as we move through the year.”
Buybacks are still on the cards, but at a reduced level for the time being. The push for lucrative non-interest income shouldn’t come as a surprise, and while the price may feel lofty, the strategic rationale looks solid.”
7am GMT: Earnings from NatWest, Capgemini
10am GMT: Eurozone trade data
1pm GMT: Moderna earnings
1:30pm GMT: US inflation for January
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