Shares of Edinburgh-headquartered NatWest Group fell as much as 8% on Friday after it published financial results for the third quarter, showing quarterly operating profit before tax flat at £2.2 billion.
NatWest, formerly called Royal Bank of Scotland, said quarterly profit attributable to ordinary shareholders slipped 4.1% to £1.53 billion. Customer deposits rose to £454.3 billion.
NatWest-RBS reported growth in customer assets and liabilities (CAL) of £1.002 trillion, up £15.7 billion or 1.6% in the quarter and £42.3 billion, or 4.4%, year to date (including Evelyn Partners).
The company said: “In Retail Banking, CAL grew by £4.6 billion in the quarter, with mortgages up £1.2 billion and deposits up £3.1 billion, while 36,000 customers have connected £6.2 billion of mortgage balances through our Mortgage Elsewhere Hub; our new insurance partnership has generated more than 10,000 policies to date; and we have launched Sainsbury’s-branded loans and savings.
“We have now exceeded our 2026 first-time buyer lending target, delivering more than £10 billion in lending.
“In Private Banking & Wealth Management, the integration of Evelyn Partners is progressing well, with both businesses growing. We delivered £1.0 billion of AUM net inflows in the quarter, equivalent to 3.4% of opening balances on an annualised basis, and a record Coutts mobile NPS of +57.
“We also launched investment-backed lending in our app for eligible clients, making it easier for them to meet more of their needs digitally.
“In Commercial & Institutional, net loans to customers grew by £6.7 billion and customer deposits by £3.0 billion in the quarter, primarily reflecting growth across Corporate & Institutions and Commercial Mid-market.
“We continued to support sectors fundamental to the UK economy, including more than £2.8 billion committed to social housing. By growing our start-up customer base with 8% higher customer account openings year-on-year and expanding our Accelerator network, we continue to support entrepreneurs across the UK.”
NatWest Group CEO Paul Thwaite said: “NatWest Group has delivered another strong performance in the third quarter of 2026, underpinned by the activity of more than 20 million customers and the significant role we play in supporting economic growth across the UK.
“As we help more customers to save and invest, buy a home or expand their businesses, we continue to see broad-based growth in our three customer franchises, with lending, deposits and assets under management all increasing during the quarter.
“Our strategy is consistently delivering sector-leading growth and returns, with a Return on Tangible Equity of 20.2% for the year to date, supported by greater income diversification, disciplined cost management and strong capital generation.
“We are confident in the strengths we’ve created and in the opportunities we see ahead, as we continue to invest in our capabilities, deepen customer relationships and support growth across the UK.”