NatWest has reported an attributable profit of £1.25bn in its Q1 results, as the bank said it had demonstrated “positive momentum”.

The group also posted an earnings per share of 15.5 pence and a return on tangible equity (RoTE) of 18.5%, driving capital generation pre-distributions of 49 basis points for the quarter.

NatWest, which was announcing a trading update for the three months to 31 March, also said it had a net interest margin (NIM) of 2.27%, which was eight basis points higher than Q4 2024 principally reflecting deposit margin expansion.

The bank said it is aiming to achieve a return on tangible equity at the upper end of its previously guided range of 15-16% in 2025. Natwest is also expecting its income this financial year, excluding notable items, to be at the “upper end” of its previously guided range of £15.2-15.7bn, it added.

Chief Executive, Paul Thwaite, said: "Our strong first quarter performance demonstrates the positive momentum in our business as we deliver against clear strategic priorities, and we now expect to be at the upper end of our income and returns guidance for 2025.”

He added: “In the face of increased global economic uncertainty, our customers remain resilient and we saw good levels of activity through Q1 2025. The strength of our balance sheet means we are well placed to help our customers navigate any challenges, whilst also investing in our business and delivering returns to shareholders.”

---