NatWest Markets reports Q3 profit of £126 million, up from £20 million

LONDON - NatWest Markets Plc (NWM) reported a profit of £126 million for the third quarter of 2025, a significant increase from £20 million in the same period last year, driven by lower litigation costs and stronger performance in key business areas.

Total income for the quarter reached £326 million, up from £284 million in Q3 2024, primarily due to an increase in the profit share arrangement with fellow NatWest Group subsidiaries and stronger performances in Currencies and Capital Markets. This was partially offset by lower Fixed Income revenues amid challenging market conditions.

Operating expenses decreased to £269 million in Q3 2025, compared to £254 million in the same quarter last year. The company reported a £26 million credit in litigation and conduct costs, reflecting progress in resolving legacy matters.

"We maintained a high level of engagement with our customers and capitalised on our strengths through a connected Commercial & Institutional segment," NWM stated in its press release.

Total assets increased to £189.3 billion as of September 30, 2025, up from £183.2 billion at the end of 2024. The company maintained a robust capital position with a Common Equity Tier 1 (CET1) ratio of 17.5%, though this was down from 18.2% at the end of 2024 due to an increase in risk-weighted assets.

NWM’s Liquidity Coverage Ratio improved to 203% from 195% at the end of 2024, driven by lower net outflows despite a decrease in the liquidity portfolio.

The bank reported it had delivered £4.3 billion toward NatWest Group’s climate and transition finance target to provide £200 billion between July 2025 and the end of 2030.

NWM operates in an environment that "continues to be impacted by geopolitical risks and uncertainty on trade policies," according to the statement.

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