NatWest has reported a 24.4% jump in profit to £7.7bn in 2025, a year that saw the bank return to full private ownership for the first time since its 2008 bailout.

The bank’s total income in 2025 reached £16.6bn, up 13.2% on 2024, while its focus on cost discipline saw the group achieve its cost target of around £8.1bn.

NatWest released its figures in the same week it announced the acquisition of wealth manager Evelyn Partners for £2.7bn, the bank’s largest acquisition since it was bailed out by taxpayers 18 years ago.

Publishing its 2025 annual results today, NatWest revealed that it grew its customer base by around a million customers last year, while also delivering a return on tangible equity (RoTE) of 19.2%.

The bank’s assets under management and administration (AUMA) grew by 19.6% to £58.5bn, which it said was assisted by strong client net inflows including more than 50,000 new to invest clients.

In its retail banking division, NatWest delivered an operating profit of £3.1bn, and a return on equity of 24.7%, as the bank supported 19 million retail customers. Within this, NatWest said it had helped more customers achieve their homeownership goals with around 30% of 2025 gross mortgage lending supporting first-time buyers, and around £300m of lending through the bank’s family-backed mortgage proposition.

“[Last year] was another strong year for NatWest, rooted in the support we provide to people, families and businesses in every nation and region of the UK,” chief executive at NatWest, Paul Thwaite, commented.

“Our performance reflects the progress we have made against our strategic priorities. Income of £16.4bn and a RoTE of 19.2% are significantly up on last year, and ahead of guidance, whilst dividends per share increased by 51% compared to 2024.

“It is clear our strategy is working, and we are delivering consistently. We are raising our ambition and sharpening our strategic focus, with stretching new targets in place. We must now make the most of the investment we've made to become even more productive, build deeper customer relationships and ensure we are the bank of choice in the areas we want to grow.”

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