On 24 October 2025, NatWest Group plc announced the results of its third‑quarter 2025 earnings. Total income excluding notable items rose £200 million to £4.2 billion, while profit attributable to shareholders increased to £1.6 billion from £1.2 billion a year earlier. The bank’s return on tangible equity climbed to 22.3 %.
Customer lending grew by £4.4 billion during the quarter, whereas deposits fell by £1.1 billion, leaving the loan‑to‑deposit ratio at 88 %. Liquidity remained strong with an average coverage ratio of 148 %. Operating efficiency improved, as the cost‑to‑income ratio fell to 47.8 % from 52.8 % a year earlier, and the core equity tier‑one ratio rose to 14.2 %.
Based on the quarter’s performance, NatWest now expects 2025 income, excluding one‑off items, to reach about £16.3 billion, with a return on tangible equity above 18 %. The bank will present its 2026 guidance and new 2028 targets in February, signalling continued confidence in its growth trajectory.
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