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Natwest Group Plc (NWG)
NYSE:NWG
Earnings Data
Report Date
May 01, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.48Last Year’s EPS
0.42Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operating performance in 2025 with double‑digit income growth, robust lending and AUMA expansion, meaningful cost savings and high capital generation. Management set ambitious 2028 targets (RoTE >18%, CAL growth >4% p.a., cost/income <45%, CET1 ~13%) and articulated strategic rationale for the Evelyn Partners acquisition to accelerate wealth capabilities. Key risks highlighted include near‑term rate cut headwinds, regulatory RWA increases (Basel 3.1/CRD IV), integration and day‑one CET1 impact from the Evelyn deal, and sensitivity of future hedge income to reinvestment rates. On balance the positives (growth, profitability, capital generation, efficiency gains and strategic scale in wealth) outweigh the manageable and disclosed risks, though outcomes remain sensitive to macro, regulatory and execution dynamics.Company Guidance
Strong top-line and profitability
Income (excluding notable items) grew 12% to GBP 16.4bn, operating profit was GBP 7.7bn and profit attributable to ordinary shareholders was GBP 5.5bn. Return on tangible equity was 19.2% and EPS rose 27% to 68p.
Material balance sheet growth
Gross lending increased 5.6% to GBP 392.7bn, deposits rose 2.4% to GBP 442bn, and customer assets and liabilities (CAL) expanded (customer assets and liabilities grew 10% in Private Banking and 4% in Retail). Loan growth included GBP 14bn (10%) in Commercial & Institutional.
Wealth and AUMA momentum
Assets under management and administration increased 20% to GBP 58.5bn with net flows up 44% (GBP 4.6bn). Fee income from AUMA grew 11% to GBP 300m and Private Banking net new flows/engagement improved materially.
Improved efficiency and cost control
Gross cost savings of around GBP 600m (~7% of 2024 cost base) were delivered. Costs grew modestly (other operating expenses ~1.4% higher) and the group cost income ratio reduced by 4.8 percentage points to 48.6% (Retail C/I down from 50% to 45%; C&I down from 52% to 49%; PBWM down 10 ppts to 64%).
Strong capital generation and CET1
Generated 252 bps of capital in 2025, ending the year with a CET1 ratio of 14% (40 bps up year-on-year). Capital generation guidance for 2026 is ~200 bps before distributions.
Low impairment and disciplined risk profile
Net loan impairment charge was GBP 671m (16 bps of loans), ECL coverage 83 bps, Stage 3 loans 1.1% (down on prior year). Management expects loan impairment rate to be below 25 bps in 2026.
Customer franchise and new customers
Added 1 million new customers in 2025; now serving >20 million customers. Retail customer base grew >5%, and 50,000 new Private Banking/Wealth customers invested for the first time in 2025.
Strategic acquisition to scale Wealth
Announced acquisition of Evelyn Partners: adds GBP 69bn of AUMA, scales Private Banking & Wealth to ~20% of group CAL, increases fee income ~20% on Day 1, expected >GBP 700m incremental income and ~GBP 100m cost synergies, and management expects RoTE accretion and EBITDA of ~GBP 400m by year 3.
Technology, AI and simplification progress
Decommissioned ~200 business apps, migrated 1m Sainsbury's customers, created GBP 100m of investment capacity, launched generative AI enhancements (Cora resolved queries +20 ppts), set up an AI research office and increased developer productivity (deployment frequency >4x since 2021).
NWG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NWG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 13, 2026 | $16.33 | $16.07 | -1.59% |
Oct 24, 2025 | $14.52 | $15.34 | +5.65% |
Jul 25, 2025 | $13.33 | $13.89 | +4.20% |
May 02, 2025 | $12.54 | $12.77 | +1.80% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Natwest Group Plc (NWG) report earnings?
Natwest Group Plc (NWG) is schdueled to report earning on May 01, 2026, TBA (Confirmed).
What is Natwest Group Plc (NWG) earnings time?
Natwest Group Plc (NWG) earnings time is at May 01, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NWG EPS forecast?
NWG EPS forecast for the fiscal quarter 2026 (Q1) is 0.48.