LSE$NWG
Natwest Group PLC · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
NatWest delivered strong results with solid revenue growth, higher EPS, and robust net income supported by deposit margin expansion and stable credit performance.
NatWest Group posted a strong Q1 2025 with increased revenue and EPS. Operating income rose due to higher deposit margins and trading activity, while net income held steady despite an increased impairment charge. Liquidity and capital ratios remained robust.
Headline financials
Revenue & EPS history
NatWest · Revenue · Quarterly
$5.15B
Forward guidance
NatWest expects to meet or exceed the upper range of its income and return targets for 2025, maintaining capital discipline and strong liquidity.
Tailwinds
- Return on tangible equity expected at upper end of 15-16% range.
- Income excluding notable items expected at upper end of £15.2-15.7B.
- Operating costs expected around £8.1B including integration costs.
- Loan impairment rate to remain below 20 basis points.
- Continued focus on capital returns and potential buybacks.
Headwinds
- Ongoing global economic uncertainty may impact forecasts.
- Geopolitical risks require sustained credit vigilance.
- Stage 3 defaults increased in some customer segments.
- Private Banking deposits impacted by seasonal tax outflows.
- RWAs expected to rise to £190-195B by year-end, impacting capital ratios.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2025
+289.0%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
46%
18 / 39 earnings
Positive
+3962.9%
Q4 2023
Best reaction
-13.8%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -1.7% | -1.4% | -1.1% | |
| Q3 2026 | +4.6% | +6.4% | +4.9% | |
| Q1 2025 | +3649.3% | +0.2% | +12.0% | |
| Q4 2024 | +2.9% | +2.8% | +12.0% | |
| Q3 2024 | +1.6% | +0.7% | +3.4% | |
| Q2 2024 | +9.3% | +8.2% | +5.1% | |
| Q1 2024 | +4.3% | +5.1% | +8.5% | |
| Q4 2023 | +3962.9% | +1.3% | +22.8% | |
| Q3 2023 | -13.8% | -14.8% | +3.0% | |
| Q2 2023 | +2.6% | +3.4% | -15.8% | |
| Q1 2023 | -6.7% | -8.8% | -4.3% | |
| Q4 2022 | +3679.6% | -7.1% | -16.5% | |
| Q3 2022 | -5.2% | -5.8% | +9.4% | |
| Q2 2022 | +10.7% | +8.8% | +4.0% | |
| Q1 2022 | -4.4% | +0.4% | +2.8% | |
| Q4 2021 | +0.6% | -5.1% | -9.7% | |
| Q3 2021 | -4.3% | -3.7% | -12.9% | |
| Q2 2021 | -1.1% | +2.5% | -4.4% | |
| Q1 2021 | -4.1% | -4.8% | +5.3% | |
| Q4 2020 | +6.4% | +10.1% | +10.9% | |
| Q3 2020 | +0.0% | +5.9% | +41.1% | |
| Q2 2020 | +3.7% | +5.7% | +7.2% | |
| Q1 2020 | -0.3% | -4.6% | -1.8% | |
| Q4 2019 | -9.7% | -10.8% | -41.8% | |
| Q3 2019 | -4.4% | -6.8% | -4.4% | |
| Q2 2019 | -7.2% | -4.2% | -14.0% | |
| Q1 2019 | -2.8% | -4.0% | -13.9% | |
| Q4 2018 | +7.7% | +8.3% | +15.1% | |
| Q3 2018 | -3.3% | -0.2% | -6.9% | |
| Q2 2018 | -0.1% | -0.3% | -4.1% | |
| Q1 2018 | -2.8% | -3.1% | +1.0% | |
| Q4 2017 | -3.5% | -6.2% | -9.2% | |
| Q3 2017 | +2.3% | +2.7% | -0.8% | |
| Q2 2017 | +1.5% | +0.4% | -2.5% | |
| Q1 2017 | +5.5% | +5.4% | +2.8% | |
| Q4 2016 | -6.5% | -4.0% | -4.6% | |
| Q3 2016 | -4.0% | -6.4% | +4.3% | |
| Q2 2016 | -4.8% | +0.2% | +7.9% | |
| Q1 2016 | +5.9% | +8.1% | +10.0% |
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