NatWest Group (ADR)
Runs UK retail, wealth and commercial banking through NatWest, Coutts and related brands.
Something off on this page? Send us feedback.
Profile
Serves UK retail, private, wealth, commercial and institutional customers with deposits, lending, payments, investment services and capital-markets capabilities. Three customer businesses operate through a multi-brand structure, with performance shaped by UK customer activity, credit quality, deposit funding, capital and liquidity management, and conduct controls.
Provides current accounts, savings, mortgages, cards and personal loans through Retail Banking. Private Banking & Wealth Management combines Coutts with investment services, Evelyn Partners and Bestinvest, while Commercial & Institutional supplies lending, payments, financing, risk management and capital-markets capabilities.
Operations are concentrated in the UK and distributed across brands including NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, NatWest Markets and Lombard. Recent execution has focused on migrating acquired retail accounts and mortgage portfolios, expanding workplace savings and wealth management, and simplifying the post-crisis group.
The model depends on UK customer activity, deposit funding, borrower credit quality, disciplined capital and liquidity management, and conduct controls across regulated banking businesses. Brand, legal-entity and reportable-segment boundaries do not map one-for-one.
Company facts
Categories
Key statistics
Year to date +3.2% · Average volume (30d) 3.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| May 11, 2026 | BNP Paribas | Target | $18.20 | ||
| Jan 7, 2026 | Barclays | Downgrade | Overweight | Equal Weight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.45 | $0.54 | +20.0% | $5.90B | $6.06B | +2.8% | +2.21% |
| May 1, 2026Q1 FY26 | $0.44 | $0.48 | +9.1% | $5.80B | $5.94B | +2.4% | −1.95% |
| Feb 13, 2026Q4 FY25 | $0.38 | $0.46 | +21.1% | $5.68B | $5.89B | +3.6% | +4.17% |
| Oct 24, 2025Q3 FY25 | $0.42 | $0.53 | +26.9% | $5.58B | $4.33B | −22.3% | +2.09% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $9.84B | $9.82B | $10.21B | $10.01B | $10.00B | $10.64B | |
| Gross profit | $5.39B | $5.40B | $5.86B | $5.81B | $5.90B | $6.20B | |
| Operating income | $2.45B | $2.40B | $2.95B | $2.63B | $2.75B | $3.11B | |
| Net income | $1.82B | $1.80B | $2.27B | $2.00B | $2.04B | $2.28B | |
| Diluted EPS | $0.84 | $0.81 | $0.54 | $0.92 | $0.97 | $1.08 | |
| Gross margin | 54.8% | 55.0% | 57.4% | 58.0% | 59.0% | 58.3% | |
| Operating margin | 24.9% | 24.4% | 28.9% | 26.2% | 27.5% | 29.2% |
Fiscal years (4-quarter sums)FY21 $16.20B · FY22 $21.89B · FY23 $33.53B · FY24 $38.65B · FY25 $39.88B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $128.85B · Total debt $103.13B · Total assets $1.01T · Shareholders' equity $59.23B
Dividends
Last cut to $0.3222 from $0.6207 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 18 | $0.3222 | cut from $0.6207 |
| Mar 20, 2026 | Mar 20 | May 5 | $0.6207 | raised from $0.2547 |
| Aug 8, 2025 | Aug 8 | Sep 12 | $0.2547 | cut from $0.3807 |
| Mar 14, 2025 | Mar 14 | Apr 28 | $0.3807 | raised from $0.1588 |
| Aug 9, 2024 | Aug 9 | Sep 13 | $0.1588 | cut from $0.2914 |
| Mar 14, 2024 | Mar 15 | Apr 29 | $0.2914 | raised from $0.139 |
| Dec 1, 2023 | Dec 4 | Dec 29 | $0.139 | raised from $0.1352 |
| Aug 10, 2023 | Aug 11 | Sep 15 | $0.1352 | cut from $0.2443 |
Ownership
Shares outstanding 1.99B · Float 1.99B · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 18.16M | 0.91% | 13F | Aug 13, 2026 |
| Natixis Advisors, L.P. | 12.72M | 0.64% | 13F | Aug 14, 2026 |
| Capital International Investors | 12.70M | 0.64% | 13F | Aug 12, 2026 |
| BNP Paribas Arbitrage, SNC | 12.64M | 0.63% | 13F | Aug 13, 2026 |
| Jones Financial Companies LLLP | 12.50M | 0.63% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Barclays (ADR)
Broad UK rival across retail, business, wealth and institutional banking
- Lloyds Banking Group (ADR)
Scale competitor in UK retail, mortgages, commercial banking and wealth
- HSBC (ADR)
UK retail, wealth and commercial rival with global institutional reach
- Banco Santander (ADR)
UK mortgage, deposit, consumer-finance and commercial-banking rival
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NatWest Group (ADR) | $18.38 | −0.03% | $36.59B | 5.2 | 13.9 | 1.8 | +51.9% |
| Barclays (ADR) | $26.91 | +0.15% | $90.56B | 10.2 | 6.1 | 2.2 | −55.9% |
| Lloyds Banking Group (ADR) | $5.95 | +0.42% | $85.92B | 13.7 | 8.6 | 3.3 | −64.8% |
| HSBC (ADR) | $104.30 | +0.76% | $355.80B | 14.9 | 11.9 | 2.8 | +32.2% |
| Banco Santander (ADR) | $14.74 | +0.51% | $215.33B | 12.3 | 10.6 | 2.7 | +6.2% |
| Median | 13.0 | 9.6 | 2.8 | −24.8% |