NatWest (NWG LN) - Q4 (GBP): Pretax Profit 1.94bln (exp. 1.72bln), Revenue 4.32bln (prev. 3.83bln Y/Y), NII 3.44bln (exp. 3.33bln); intends to commence a GBP 750mln share buyback programme in H1'26
Newsquawk Staff ·
FY26 Guidance
- ROE above +17% (exp. +18%).
- Total income between 17.2-17.6bln.
What it means
NatWest's Q4 results show a significant beat in pretax profit and revenue compared to expectations, indicating solid performance in the banking sector. The initiation of a GBP 750 million share buyback may signal confidence in future earnings and return of capital to shareholders, which could positively impact the stock's valuation. Overall, the FY26 guidance remains strong, although slightly below expectations for ROE, suggesting a cautious optimism ahead.
Sources
- JPMorgan Chase (JPM) reportedly faces an additional GBP 100-150mln tax bill following the UK government's decision to double the corporation tax surcharge on banks, potentially jeopardising plans for its new London headquarters, Sky News reports
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- US Broker Moves: ENPH and DYN downgraded at Oppenheimer; FFIV downgraded at Piper Sandler
- JPMorgan’s (JPM) 270 Park Avenue headquarters in Manhattan is estimated to cost approximately USD 6bln, WSJ reports
- [MARKET ANALYSIS] A busy morning for EU banking names, with tech stocks supported by upbeat SK Hynix earnings
Related headlines
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects1 hour ago
- Senior US Treasury trade official Eric Ettorre will leave to join Netflix (NFLX), reports Axios2 hours ago
- [MARKET UPDATE] Limited Gilt reaction on the Chancellor's speech. Upside in Gilts on the DMO remit, size as expected and marked skew away from long-end. OBR commentary then pared some of this.1 hour ago
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th2 hours ago
- [MARKET ANALYSIS] UK Budget, 2026: No fireworks from Chancellor Healey, major reform kicked to 2027+, DMO skewed away from the long-end once again25 min ago
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports2 hours ago
- UK PM Burnham declines to rule out another Brexit referendum at PMQs2 hours ago
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized3 hours ago
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects4 hours ago
- Ukrainian President Zelensky says Western powers could eventually discuss Russia's demands for security guarantees, but insists Ukraine's own security needs must be addressed first5 hours ago
- [MARKET ANALYSIS] Crude grinds higher, Dutch TTF remains just under EUR 100/MWh, metals subdued 5 hours ago
- [MARKET ANALYSIS] Contained, but a bearish skew, across fixed income into the UK Budget and FOMC5 hours ago
- [MARKET ANALYSIS] Antipodeans diverge as AUD saw strong CPI and NZD slumped on a surprise RBNZ hold, DXY awaits the Fed5 hours ago
- UK DMO says gross gilt issuance planned for 2026/27 is GBP 250.6bln (exp. 249.6bln, prev. 246.2bln in April remit)1 hour ago
- UK bank tax hike will reportedly be temporary, with surcharge less than 8%, according to Bloomberg citing sources4 hours ago