NatWest Markets Reports Robust 2025 Annual Results

NatWest Markets Plc (NWM Group) has announced a notable profit increase for the fiscal year ending 31 December 2025. Profits reached £275 million, a significant rise from £63 million in 2024. This increase was largely due to strengthened performances in the Currencies and Capital Markets segments, supplemented by gains from NatWest Group subsidiaries' profit-sharing arrangements.

Operating expenses grew by £100 million to £1,308 million. While litigation costs decreased by £39 million, other expenses, notably in technology investments and staff costs, escalated. Meanwhile, the group's income rose to £1,471 million, reflecting enhancements across business lines despite a downturn in Fixed Income revenues.

The balance sheet of NWM Group exhibited reductions in assets and liabilities by £14.8 billion, attributed to lower derivative fair values amid FX market volatility. Notably, funded assets increased by £2.4 billion, driven by a boost in customer loans.

The capital structure remains robust with a Common Equity Tier 1 ratio of 18.4% and a slight decrease in the MREL ratio. Liquidity coverage also improved, reflecting positive shifts in liquidity portfolios despite a £0.8 billion reduction over the year.