NatWest Group

What NatWest Group does

NatWest Group plc is a UK-focused banking and insurance holding company headquartered in Edinburgh and listed on the London Stock Exchange (NWG) and NYSE via ADRs, serving more than 20 million customers through three core segments — Retail Banking, Commercial & Institutional, and Private Banking & Wealth Management. Its retail franchise operates heritage brands including NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's, RBS International, FreeAgent, Drummonds and Isle of Man Bank, offering current accounts, mortgages, savings, lending, asset finance, wealth management, protection insurance and merchant payments (Tyl). The commercial and institutional segment, led by 1,000+ relationship managers and NatWest Markets Plc, provides payments, fixed income, FX, trade finance, infrastructure lending and capital markets services. Pricing is quote-based across retail and commercial products, with revenues generated from net interest income, recurring relationship fees, transaction-based merchant and card fees, and managed-services-style fees in wealth management (totalling £6,495m, £8,809m and £1,131m respectively in 2025 across the three segments).

Underlying the franchise is an AI-first technology platform: NatWest invested £1.2bn in technology, data and AI in 2025, runs 51% of applications on cloud, and operates a strategic collaboration with OpenAI (the first UK bank to do so) that powers the Cora AI digital assistant (12.9m conversations in 2025), agentic AI workflows, voice AI in development, and a first-of-kind ChatGPT app for home-buying. Engineering scale includes 20,000 Digital X colleagues across the UK, India (Bengaluru) and Switzerland, with 12,000+ coders using AI assistants that now generate 35% of code. The go-to-market model is hybrid — physical branch network, 11.4m mobile app users, an inside-sales Venture Banking unit, embedded partnerships (Rightmove, AA, Saga), and an Open Innovation fintech programme with annual 12-week AI cohorts — all anchored by regional boards and accelerator programmes aimed at scaling to 50,000 entrepreneur members in 2026.

Name

NatWest Group

Legal name

NatWest Group plc

Website

https://natwestgroup.com

Company type

Public

Founded year

1727

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

UK-focused banking group operating multi-brand retail, commercial and private banking franchises including NatWest, RBS, Ulster Bank and Coutts, serving over 20 million customers with an AI-first technology platform and OpenAI strategic collaboration.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021), Finance Services (6199)

akta.pro primary industry

Digital Banking & Neobank Platforms (BPAMAFAD)

akta.pro secondary industry

Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)

Keywords

• Retail banking services
• Commercial banking
• Private wealth management
• Merchant payments
• Asset finance

Headquarters

HQ city

Edinburgh

HQ country

United Kingdom

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Retail Banking net interest and fees: Total income of £6,495m in 2025 (up from £5,650m in 2024); generated from current accounts, savings, mortgages and personal unsecured lending across NatWest, RBS and Ulster Bank NI brands; customer deposits of £202.6bn and net loans of £216.1bn.
2. Commercial & Institutional Banking: Total income of £8,809m in 2025 (up from £7,957m in 2024); product propositions across banking, payments, fixed income and FX for SMEs through to large institutions; customer deposits £196.4bn and lending £154.2bn.
3. Private Banking & Wealth Management fees: Total income of £1,131m in 2025 (up from £969m); AUMA of £58.5bn (up from £48.9bn); fee-based wealth management with 21.7% return on equity; acquisition of Evelyn Partners will increase group fee income by ~20%.
4. Capital markets and balance sheet risk optimisation: Significant Risk Transfer (SRT) issuance tied to £3.5bn of commercial real estate loans; SRTs improving CET1 capital ratio; active participation in $41bn SRT market.
5. Merchant payments (Tyl by NatWest): Merchant payments business partnering with Endava to accelerate product development using Dava.Flow and Payments Gateway Accelerator; targets UK merchant payments sector.
6. Asset finance (Lombard): UK's largest provider of asset finance via Lombard brand, wholesale-funded SME lending through Simply Asset Finance partnership and digital platforms.
7. Protection insurance commissions: New life insurance, critical illness cover and over-50s life insurance products underwritten by Aviva and accessible through NatWest digital mortgage channels; including new digital protection insurance range.

Pricing tiers

Go-to-market motion5 records

Distribution channels8 records

Marketing channels8 records

Core offering

NatWest Group is a UK-focused banking and insurance holding company that, through its heritage brands (NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's, RBS International, Drummonds, Isle of Man Bank, FreeAgent) and subsidiaries (NatWest Markets Plc, Tyl by NatWest, RoosterMoney, Cushon, and the agreed acquisition of Evelyn Partners), provides current accounts, mortgages, savings and personal lending to over 20 million retail customers; banking, payments, fixed income, FX, trade finance, venture debt and infrastructure lending to commercial and institutional clients; private banking and wealth management to high and ultra-high-net-worth individuals; merchant payments via Tyl; asset finance via Lombard; workplace pensions and savings via Cushon; and small-business accounting software via FreeAgent.

Product overview

NatWest Group operates as a multi-brand banking platform structured around three core business segments: Retail Banking, Commercial & Institutional, and Private Banking. Its portfolio spans retail banking brands (NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's Military Banking, RBS International, FreeAgent, Drummonds, Isle of Man Bank) alongside specialised financial services such as NatWest Markets Plc investment banking, Tyl by NatWest merchant payments, and acquired fintechs (RoosterMoney for children's money management, Cushon for workplace pensions). The platform integrates these banking services with innovation programmes including NatWest Venture Banking, NatWest Accelerator, and NatWest Boxed partnerships, supported by financial education initiatives (NatWest Thrive, Financial Foundations) and digital capabilities including the Cora AI assistant, AI coding tools, and AI-driven customer journeys across 21 GenAI-powered experiences.

Differentiator

Problem solved

Functional benefit

Brands

• Tyl by NatWest: NatWest Group's merchant-payments business serving UK business customers.
• NatWest Venture Banking
• NatWest Boxed
• NatWest Fintech Programme

Products and services

• NatWest retail banking NatWest is NatWest Group's primary retail banking brand serving personal, family, and business banking customers across England and Wales, offering current accounts, mortgages, personal loans, savings, and digital banking services through the NatWest mobile app and UK branch network.
• Royal Bank of Scotland retail banking Royal Bank of Scotland serves personal and business banking customers across Scotland, providing current accounts, mortgages, savings, business banking, and the recently launched IP lending product (first in Scotland, up to £10m).
• Ulster Bank Ulster Bank supports people, families, and businesses with personal, business and private banking services across Northern Ireland.
• Coutts private banking and wealth management Coutts is NatWest Group's private banking and wealth management brand serving UK-connected high and ultra-high-net-worth individuals with banking, lending, and wealth management services; combined with Evelyn Partners will create UK's leading private banking and wealth franchise with £127bn AUMA.
• Lombard asset finance Lombard is the UK's largest provider of asset finance, offering lending and specialist financial services to businesses through its own balance sheet and wholesale-funded SME lending via Simply Asset Finance partnership.
• Holt's Military Banking Holt's Military Banking provides banking services designed around military life for the British Armed Forces community, with a heritage stretching back to 1809.
• RBS International RBS International is one of the largest banks operating in both local and institutional banking sectors in the Channel Islands, Isle of Man and Gibraltar, serving personal, private, commercial and financial institution customers.
• FreeAgent accounting software FreeAgent offers easy-to-use accounting software for UK small businesses, landlords and their accountants and bookkeepers, provided as a wholly-owned NatWest subsidiary brand.
• NatWest Markets Plc investment banking NatWest Markets Plc is a wholly-owned subsidiary of NatWest Group offering debt financing, risk management and trading solutions to institutional clients with international hubs in Europe, US and Asia.
• Tyl by NatWest merchant payments Tyl by NatWest is NatWest Group's merchant-payments arm serving UK business customers with integrated payment acceptance solutions, modernised through Endava's Dava.Flow AI-native delivery model and Payments Gateway Accelerator.
• NatWest Venture Banking NatWest Venture Banking is a dedicated venture banking business launched in April 2026 to support the UK's most ambitious high-growth companies with specialist venture debt and tailored financial support, forming a cornerstone of NatWest's Growing Together strategy.
• RoosterMoney kids money management app RoosterMoney is a London-based children's pocket money and money management app acquired by NatWest in 2021, serving over 130,000 UK users with features including reward charts, chore reminders, and real-time notifications to support financial education.
• Cushon workplace pensions and savings Cushon is a workplace pensions and savings fintech serving over 500,000 customers with £1.8bn AUM, acquired by NatWest in June 2023 to expand NatWest's workplace pensions and savings offerings including ISAs and pension schemes.
• Drummonds private banking Drummonds is a NatWest Group private banking heritage brand tracing its origins to a London goldsmith business founded in about 1712, serving private banking clients.
• Isle of Man Bank Isle of Man Bank was the first company to be formed under the Isle of Man's Companies Act of 1865 and remains an important part of life on the Isle of Man, providing retail banking services.

Quantifiable outcome

• Customer lending growth of 6.6% to £400bn in Q1 2026
• +7 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability13 records

Feature7 records

Partnerships

18 partnerships are on record, tiered core, minor and flagship.

• FINOS (Fintech Open Source Foundation)coreStrategic or Co-development Partner · 23 June 2026Founding member of FINOS AI Fund alongside DTCC, Morgan Stanley, and Royal Bank of Canada. Develops governance standards and implementation frameworks for AI adoption in regulated financial services. Outputs developed as open source under FINOS governance.
• Responsible AI Institute (TrustX for Finance)coreStrategic or Co-development Partner · 15 June 2026Co-founding member (with U.S. Bank) of TrustX Finance Working Group on autonomous AI assurance in financial services. Provides controlled sandbox proving ground for testing AI systems that initiate payments and execute transactions.
• Prince William's Homewards programmeminorGTM or Marketing Partner · 12 June 2026NatWest Group joins over 25 organizations including Bloomberg, Vodafone, Three, Accenture in developing the UK's first Homelessness Data Lab through Homewards programme. Partnership with LandAid and Salesforce aimed at identifying people at risk of homelessness early.
• Cosine AIcoreStrategic or Co-development Partner · 8 June 2026Partnered with Cosine and coalition of UK financial institutions (HSBC, Lloyds Banking Group, LSEG, BAE Systems) to co-design Lumen Sovereign — Britain's proposed first sovereign frontier AI model. UK government selected Cosine as flagship partner in £500m Sovereign AI programme.
• Cleareye.aicoreTechnology or Integration · 5 June 2026Strategic partnership with Indian fintech firm Cleareye.ai to deploy the ClearTrade platform, automating document processing, compliance checks, and trade-based money laundering screening across NatWest's trade finance operations.
• Endava (Tyl by NatWest partnership)coreTechnology or Integration · 15 May 2026Strategic partnership to accelerate Tyl by NatWest's merchant payments offering using Endava's AI-native delivery model Dava.Flow and Payments Gateway Accelerator. Combines Endava's AI-native delivery with Tyl's market position to increase speed-to-market, flexibility, scalability and performance.
• RightmovecoreGTM or Marketing Partner · 30 April 2026New exclusive mortgage partnership launched with Rightmove to provide home-buying journey integration; aligns with NatWest's distribution strategy and AI-powered ChatGPT home-buying app.
• IIT Delhi Foundation for Innovation and Technology Transfer (FITT)coreStrategic or Co-development Partner · 27 April 2026FITT's first collaboration with a global bank. Joint innovation programs, pilot initiatives, and industry-led research in AI, fintech, and cybersecurity. Builds on NatWest's continued investment in India including Bengaluru office opening.
• CFIT (Centre for Finance, Innovation and Technology)coreStrategic or Co-development Partner · 22 April 2026CFIT secured £1m transitional funding from HM Treasury and strategic partnership with investment from NatWest Group. Will support CFIT's transition to self-sustaining funding model through March 2027, focusing on AI, smart data, and financial inclusion.
• Simply Asset FinancecoreChannel Partner/ Reseller/ Distributor · 14 April 2026Simply Asset Finance partnered with Lombard (part of NatWest Group) to expand lending to UK SMEs, utilizing Lombard's wholesale facility and Simply's digital lending platform with AI support to reach broader SME customer base.
• Foundervine and Bae HQcoreGTM or Marketing Partner · 12 April 2026Strategic partnerships for NatWest Accelerator's Female Founders Community to address barriers faced by women-led ventures; expanding support nationwide to reach 50,000 network members by 2026.
• Evelyn PartnersflagshipStrategic or Co-development Partner · 1 February 2026Evelyn Partners, a UK wealth manager overseeing £69bn of assets under management and administration, being acquired for £2.7 billion; combines with NatWest's existing £59bn Private Banking and Wealth Management to create combined franchise with £127bn AUMA. Includes brands like BestInvest. Expected to increase NatWest fee income by ~20% and deliver £100m annual run-rate cost synergies.
• GooglecoreTechnology or Integration · 1 July 2025NatWest Group is partnering with Google to help entrepreneurs understand and implement AI tools and training for UK startups.
• OpenAIflagshipStrategic or Co-development Partner · 1 January 2025First UK bank to have a strategic collaboration with OpenAI. Powers agentic financial assistant for 25,000 customers in 2026; trials showed tenfold productivity gains in fraud detection and engineering.
• University of EdinburghminorStrategic or Co-development Partner · 1 January 2025Royal Bank of Scotland and University of Edinburgh partnership to boost Scottish start-ups and student entrepreneurs. Part of NatWest's plan to create innovation hubs at 10 universities by 2027.
• Sainsbury's BankflagshipStrategic or Co-development Partner · 1 June 2024NatWest acquired most of Sainsbury's Bank business for approximately £125 million, increasing assets by £2.5 billion and customer base by about 1 million customers. Deal includes unsecured personal loans, credit card balances, and customer deposits; expected to close in March 2025.
• CushoncoreStrategic or Co-development Partner · 1 June 2023NatWest Group acquired an 85% stake in pensions fintech Cushon for £144 million. Cushon manages around £1.8bn in assets and has over 500,000 customers, providing workplace pension and savings products, including ISAs and pension schemes. The remaining 15% retained by Cushon management.
• RoosterMoneyminorStrategic or Co-development Partner · 1 October 2021NatWest acquired RoosterMoney, a London-based FinTech providing a money management app for families and young people with over 130,000 UK users. Supports financial education and capability strategy with features such as reward charts, chore reminders, and real-time notifications.

Scale indicators15 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Barclays: Major UK-listed universal bank with overlapping retail, commercial, and investment banking franchises. Both compete head-to-head in UK retail banking, mid-market commercial lending, and UK wealth management; Barclays also operates a US consumer bank, unlike NatWest.
• HSBC Holdings: Global universal bank with significant UK retail and commercial banking operations through HSBC UK. Both compete in UK mid-market, commercial banking, and wealth management; HSBC's geographic diversification contrasts with NatWest's UK focus.
• Lloyds Banking Group: UK's largest domestic retail bank, with overlapping customer base across current accounts, mortgages, and SME lending. Lloyds is the closest direct competitor in UK retail and commercial banking, although it lacks NatWest's international private banking franchise.
• Santander UK: Subsidiary of Banco Santander, one of the largest UK banks by deposits and current accounts. Direct competitor in retail mortgages, SME lending, and corporate banking; both also participate in UK infrastructure and renewable energy project finance.

Emerging players

• Starling Bank: UK digital challenger bank serving retail and SME customers. Competes for primary banking relationships with NatWest, particularly among digital-native consumers and small businesses; a key threat to incumbent retail banking margins.
• Investec: UK and South Africa-based private banking and wealth management group. Competes with Coutts and NatWest's Private Banking division in UK high-net-worth advisory and discretionary wealth management.
• Metro Bank: UK challenger bank focused on retail and SME customers. Overlaps with NatWest in UK current accounts, savings, and business banking; NatWest acquired £2.5bn of Metro Bank's prime residential mortgages in 2024.

Broad incumbents

• Deutsche Bank: Global universal bank headquartered in Frankfurt. Overlaps with NatWest Markets in investment banking, FX, and fixed income; competes for large corporate and institutional clients in the UK and Europe.
• Standard Chartered: UK-headquartered universal bank with a focus on Asia, Africa, and Middle East markets. Less direct overlap in retail banking, but competes with NatWest Markets in trade finance, FX, and emerging-market transaction banking.

Regional players

• Virgin Money UK: UK-focused retail and business bank (formerly CYBG). Direct competitor in UK mortgages, current accounts, and SME lending, particularly in the North of England and Scotland where both have strong regional brands.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/nwg_jobs
• YouTubeyoutube.com/@NatWestGroup_Official
• LinkedInlinkedin.com/company/natwest-group
• Facebookfacebook.com/NatWestGroupJobs

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments79 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NatWest Group