NatWest Group Profit Falls 4.1% Amid Rising Credit Losses

NatWest Group reported a mixed financial performance for the third quarter ending September, with attributable profit falling 4.1% year-on-year to £1.53 billion. The decline was primarily driven by an 81% surge in credit impairment losses, which reached £277 million.

Total income rose 7.1% to £4.64 billion, bolstered by an 8.9% increase in net interest income to £3.56 billion. The bank reported an operating pre-tax profit of £2.2 billion and maintained its 2026 guidance. Following the announcement, shares fell 2.74%.

To increase efficiency, the bank cut approximately 1,000 jobs this quarter, bringing the yearly total to 1,400. These reductions and investments in technology and AI generated £420 million in cost savings. However, the headcount was partially offset by the acquisition of wealth manager Evelyn Partners, which added 2,200 staff to the group.