NatWest Group (NYSE:NWG) reported fourth-quarter and full-year 2025 results that comfortably cleared analyst hurdles, driven by a surge in net interest income and a disciplined grip on costs.
The bank, which returned to full private ownership earlier this year, used the momentum to announce a £750 million ($1.02 billion) share buyback and a transformative £2.7 billion acquisition of wealth manager Evelyn Partners.
For the fourth quarter, NatWest posted net income of $1.85 billion (46 cents per share) on total revenue of $9.88 billion.
More crucially for investors, total income net of interest expense hit $5.75 billion, outperforming Street estimates as the bank successfully navigated a shifting interest rate environment.
For the full year, attributable profit jumped 24% to £7.7 billion ($10.47 billion).
The earnings report follows the Monday announcement of the £2.7 billion acquisition of Evelyn Partners, the bank's largest transaction since its 2008 government bailout.
The move is designed to diversify NatWest’s revenue away from traditional lending and toward stable, fee-based wealth management.