NatWest Markets Q3 2026 Financial Performance Review

NatWest Markets Group (NWM Group) released its Q3 2026 interim statement, showing a challenging quarter influenced by geopolitical tensions and macroeconomic uncertainties. The company maintained a profit of £6 million, a substantial decrease from previous quarters' profits, attributed mainly to decreased revenue from Fixed Income and Currencies and a prior foreign exchange (FX) reserves credit.

Operating expenses also fell to £335 million from £399 million the previous quarter, due to reduced costs related to historical VAT issues and higher VAT recoveries. Litigations added significantly to costs, reflecting efforts to close legacy matters.

Total assets increased significantly due to volatile currency markets and interest rate hikes. Meanwhile, liquidity remained resilient, with the average Liquidity Coverage Ratio improving to 204% amid decreased funding outflows.

Despite a decline in the Common Equity Tier 1 ratio to 17.0%, NWM Plc remains committed to its climate finance goals, contributing significantly to its £200 billion target by 2030.