LONDON: NatWest Markets Group (NWM Group) delivered solid financial results for the first half of 2025, reporting a profit of £89 million—up from £83 million in the same period last year. The performance came despite navigating a turbulent geopolitical environment and volatile currency markets.
Total income rose to £762 million, an increase of £112 million year-on-year, fueled by robust gains in Currencies and Capital Markets. This growth was partially offset by lower Fixed Income revenues. Operating expenses climbed to £667 million, up £75 million, driven by elevated litigation and conduct costs, and increased staffing expenditures.
NWM Group’s balance sheet expanded, with total assets reaching £195.8 billion and liabilities £188.2 billion as of 30 June. The Common Equity Tier 1 (CET1) ratio eased to 17.1%, reflecting regulatory adjustments and reserve movements. However, the planned redemption of $1.15 billion in Additional Tier 1 (AT1) notes is set to boost CET1 capital by around £59 million in August.
Liquidity and funding remained resilient, with the Liquidity Coverage Ratio edging up to 197%. NWM Plc raised £4.3 billion in public benchmark transactions across multiple global platforms, including the US, Europe, Australia, and Switzerland.
On the ESG front, NatWest Group surpassed its £100 billion sustainable financing goal ahead of schedule. NWM Group contributed £57.3 billion toward that achievement and will now support the Group’s new £200 billion climate and transition financing target through 2030.