NatWest profit soars 24% as bank bets big on wealth with Evelyn Partners deal

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.

The deal adds approximately £68.6 billion in assets under management and administration (AUMA), positioning NatWest as a dominant player in the UK's affluent segment.

Flush with capital, NatWest’s board proposed a final dividend of 23 pence per share, bringing the total for the year to 32.5 pence—a 51% increase over 2024.

The newly authorized £750 million buyback is slated for the first half of 2026.