NatWest Q3 Profit Climbs On Income Growth; Lifts FY25 Outlook

(RTTNews) - NatWest Group Plc (NWG.L, NWG), a British banking and insurance holding company, reported Friday higher profit in its third quarter, benefited by growth in both net interest income and non-interest income. The firm also lifted its outlook for fiscal 2025.

In the third quarter, operating profit before tax was 2.18 billion pounds, up 30.4 percent from 1.67 billion pounds a year ago.

Profit attributable to ordinary shareholders climbed 36.3 percent to 1.60 billion pounds from last year's 1.17 billion pounds. Earnings per share grew to 19.6 pence from 14.0 pence a year ago.

Total income grew 15.7 percent to 4.33 billion pounds from prior year's 3.74 billion pounds. Total income excluding notable items was 4.17 billion pounds, up 10.4 percent from 3.77 billion pounds last year.

In the quarter, net interest income grew 12.7 percent to 3.27 billion pounds from 2.90 billion pounds last year. Net interest margin improved 19 basis points from last year to 2.37 percent.

Non-interest income also climbed 25.9 percent year-over-year to 1.06 billion pounds.

Looking ahead, for fiscal 2025, NatWest said it now projects income excluding notable items to be around 16.3 billion pounds, and to achieve a Return on Tangible Equity of greater than 18.0 percent.

The company previously expected income excluding notable items to surpass 16.0 billion pounds, and a Return on Tangible Equity exceeding 16.5 percent.

For fiscal 2027, the company continues to anticipate achieving a Return on Tangible Equity for the Group in excess of 15 percent.

Regarding the outlook ahead, the company said it will introduce guidance for 2026 and new targets for 2028 with its fiscal 2025 results on February 13.

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