NatWest Group (NYSE:NWG) Q4 2025 Earnings call February 13, 2026 04:00 AM ET Company ParticipantsBenjamin Cavan-Roberts - VPChristopher Cant - Head of Banks StrategyEd Firth - Managing DirectorGuy Stebbings - Executive Director of European Banks ResearchKatie Murray - CFOPaul Pybus - Head of Investor RelationsPaul Thwaite - CEOSheel Shah - Executive DirectorConference Call ParticipantsAman Rakkar - Senior Equity AnalystAmit Goel - Research AnalystJames Invine - Equity AnalystJonathan Pierce - Equity Analyst ...

NatWest Group (NYSE:NWG) Q4 2025 Earnings call February 13, 2026 04:00 AM ET Company ParticipantsBenjamin Cavan-Roberts - VPChristopher Cant - Head of Banks StrategyEd Firth - Managing DirectorGuy Stebbings - Executive Director of European Banks ResearchKatie Murray - CFOPaul Pybus - Head of Investor RelationsPaul Thwaite - CEOSheel Shah - Executive DirectorConference Call ParticipantsAman Rakkar - Senior Equity AnalystAmit Goel - Research AnalystJames Invine - Equity AnalystJonathan Pearce - Financial Anal ...

Financial Data and Key Metrics Changes - The company reported a strong performance in 2025, with total income growth of 12% to £16.4 billion, and operating profit of £7.7 billion, leading to an attributable profit of £5.5 billion [4][17][18] - Earnings per share increased by 27% to 68p, while dividends per share rose by 51% to 32.5p [5][6] - The cost-income ratio improved by 4.8 percentage points to 48.6%, with costs growing only 2% to £8 billion [4][29] Business Line Data and Key Metrics Changes - Retail banking customer assets and liabilities grew by 4% to £421 billion, with a customer base increase of over 5% [7][8] - In private banking and wealth management, assets under management increased by 20% to £58.5 billion, with net new flows growing by 41% [8][25] - Commercial and institutional lending grew by 10% or £14 billion, reflecting strong performance across various sectors [10][23] Market Data and Key Metrics Changes - Customer deposits increased by 2.4% to £442 billion, with retail banking deposits up by 4% [24] - The company reported a loan impairment rate of 16 basis points, indicating strong risk management [6][33] - The CET1 ratio stood at 14%, reflecting robust capital generation [5][34] Company Strategy and Development Direction - The company aims to achieve a return on tangible equity greater than 18% by 2028, focusing on disciplined growth and simplification [51][71] - The acquisition of Evolent Partners is expected to enhance the company's private banking and wealth management capabilities, increasing assets under management significantly [40][48] - The company plans to leverage technology and AI to improve customer experience and operational efficiency [60][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the UK economy, citing strong household savings and a commitment to social housing investment [50] - The company anticipates a moderate growth environment in 2026, with expectations for lower inflation and stable unemployment rates [31][30] - Future guidance includes income expectations of £17.2 billion to £17.6 billion for 2026, with a loan impairment rate below 25 basis points [20][46] Other Important Information - The company has reduced its share count from over 11 billion to just under 8 billion, enhancing shareholder value [6] - The company achieved gross cost savings of around £600 million, contributing to improved operational leverage [11][29] - The strategic focus includes expanding customer engagement and broadening product offerings across all business lines [60][62] Q&A Session Summary Question: On costs and future cost savings - The company highlighted a nearly 5% reduction in the cost-income ratio and discussed various levers for cost savings, including technology investments and operational simplifications [77][80] Question: On customer assets and liabilities target - Management expressed confidence in achieving growth across all business areas, including lending, deposits, and assets under management, while not providing specific growth splits [84]

NatWest Group (NYSE:NWG) Q4 2025 Earnings call February 13, 2026 04:00 AM ET Speaker9Good morning, and welcome to NatWest Group's full year 2025 results management presentation. Today's presentation will be presented by CEO, Paul Thwaite, and CFO, Katie Murray. After the presentation, we will take questions.Speaker11Good morning, and thank you for joining us today. As usual, I'm here with Katie, who will take you through the full year performance. After that, I'll talk about our strategy and our new 2028 ta ...

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智通财经APP获悉，NatWest(NWG.US)第四季度税前利润增长30%，超出预期。该公司制定了未来三年 通过技术削减成本并提高收益的计划。这家英国银行公布的税前利润为19.4亿英镑(26亿美元)，高于分 析师预期的17亿英镑。这使得该公司全年盈利达到77亿英镑，创下金融危机以来的最高水平，也高于分 析师预期。 净息差(衡量银行盈利能力的关键指标，反映银行存款利息支出与贷款利息收入之间的差额)为2.45%， 高于上一季度的2.37%。该银行继续采用一种名为结构性对冲的交易策略来应对利率逐步下降的风险。 Keefe Bruyette & Woods分析师Edward Firth和Elise Yu Ge在一份客户报告中表示："NatWest公布了一系 列强劲的业绩，前景稳健。" 该银行周一宣布，已同意以27亿英镑收购财富管理公司Evelyn Partners，旨在扩大其在本土市场高净值 客户的覆盖范围。该银行还宣布了一项价值7.5亿英镑的股票回购计划，但表示下一次回购要等到明年 晚些时候才会进行。 总部位于爱丁堡的英国最大的贷款机构之一NatWest表示，到 2028 年，客户资产和负债将以 4% 的复合 年 ...

Core Viewpoint - NatWest has projected further income growth and profitability for the year following fourth-quarter results that exceeded expectations [1] Group 1: Financial Performance - The fourth-quarter results reported by NatWest surpassed market expectations, indicating strong financial performance [1] - The company is optimistic about its income growth and profitability for the upcoming year, suggesting a positive outlook for its financial health [1]

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Core Insights - NatWest reported a 24% increase in annual profit, reaching 7.7 billion pounds ($10.47 billion), which exceeded analysts' forecasts of 7.5 billion pounds [1][1][1] - The bank has raised its return on tangible equity target for 2028 to over 18%, up from a previous target of over 15% for 2027 [1][1][1] - The results were announced shortly after NatWest's agreement to acquire Evelyn Partners, one of Britain's largest wealth managers [1][1][1] Financial Performance - The pretax operating profit for 2025 was reported at 7.7 billion pounds, an increase from 6.2 billion pounds the previous year [1][1][1] - The profit growth of 24% was slightly above market expectations, indicating strong performance [1][1][1] Strategic Outlook - NatWest's new target for return on tangible equity reflects a more ambitious growth strategy moving forward [1][1][1] - The acquisition of Evelyn Partners is expected to enhance NatWest's wealth management capabilities and market position [1][1][1]

Core Viewpoint - The acquisition of Evelyn Partners for GBP 2.7 billion positions the company as the leading private banking and wealth management firm in the U.K., enhancing its strategy by tapping into a growing market supported by favorable demographic, regulatory, and technological trends [2]. Company Overview - Evelyn Partners is a prominent financial planning and investment management firm with a 180-year history, a loyal client base, and a strong cultural alignment with the acquiring company [3]. - The firm operates a regional network of 21 offices and employs 270 financial planners and 325 specialist investment managers, along with a well-regarded direct-to-consumer investment platform, Bestinvest [3]. Financial Performance - In 2025, Evelyn Partners reported an income of GBP 509 million and an EBITDA of GBP 179 million, achieving a margin of 35% [3]. - The firm has successfully attracted net new inflows of GBP 1.6 billion, indicating strong prospects for future growth [3].