NatWest (NWG LN) Q1 2026 (GBP): NII 3.39bln (prev. 3.44bln Y/Y), Net Income 1.43bln (exp. 1.32bln, prev. 1.25bln Y/Y), Pretax Op. Profit 2bln (exp. 1.92bln, prev. 1.81bln Y/Y), Revenue 4.36bln (prev. 3.98bln Y/Y); reaffirms outlook
- NatWest now expects 2026 income excluding notable items at the top end of GBP 17.2-17.6bln range
- CEO: "We have started the year with positive momentum, underpinned by healthy customer activity".
- Cost Savings: "We have generated over £100 million of additional cost savings in the first quarter".
Context
NatWest's Q1 2026 results showed stronger-than-expected net income and pretax operating profit, signaling solid underlying performance despite a slight dip in net interest income. The reaffirmation of their 2026 income outlook at the higher end suggests confidence in sustaining profit growth, driven by strong customer activity and effective cost management, which may positively influence investor sentiment and the stock's trajectory.
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