NatWest sees income soar because it fingers out £495 million in workers bonuses

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Your assist makes all of the distinction. Learn extra NatWest Group has reported a big surge in its annual income, climbing by nearly 1 / 4 final 12 months, whereas its chief govt's remuneration noticed a considerable one-third enhance.

The banking large, which encompasses Royal Financial institution of Scotland, Ulster Financial institution, and Coutts, introduced an working pre-tax revenue of £7.7 billion for 2025. This determine represents a 24.4% rise in comparison with the earlier 12 months, surpassing analysts' forecasts of £7.5 billion.

The strong efficiency was attributed to an inflow of latest clients, partly pushed by strategic acquisitions. Earnings from its retail banking division alone jumped by 15% year-on-year, bolstered by a rise in buyer deposits throughout financial savings and present accounts, alongside the mixing of latest balances following the acquisition of Sainsbury’s Financial institution.

NatWest stated about a million Sainsbury’s Financial institution clients have been converted after the acquisition, which was first introduced in 2024.

Mortgage balances additionally elevated, whereas the financial institution gained a £2.3 billion mortgage portfolio from Metro Financial institution.

<img src="https://static.independent.co.uk/2025/10/24/08/376dfb16f92fdc451530d5bab8c53bf7Y29udGVudHNlYXJjaGFwaSwxNzYxMzc1Mjc0-2.79996620.jpg" srcset="https://static.independent.co.uk/2025/10/24/08/376dfb16f92fdc451530d5bab8c53bf7Y29udGVudHNlYXJjaGFwaSwxNzYxMzc1Mjc0-2.79996620.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/10/24/08/376dfb16f92fdc451530d5bab8c53bf7Y29udGVudHNlYXJjaGFwaSwxNzYxMzc1Mjc0-2.79996620.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="The full-year results announcement comes days after the bank said it had struck a deal to buy wealth management business Evelyn Partners for £2.7 billion. (Mike Egerton/PA)" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

The complete-year outcomes announcement comes days after the financial institution stated it had struck a deal to purchase wealth administration enterprise Evelyn Companions for £2.7 billion. (Mike Egerton/PA) (PA Wire) The complete-year outcomes announcement comes days after the financial institution stated it had struck a deal to purchase wealth administration enterprise Evelyn Companions for £2.7 billion, in a bid to faucet additional into the prosperous market.

In the meantime, chief govt Paul Thwaite noticed his pay package deal soar by a 3rd final 12 months as he picked up greater than £4 million in bonus and share awards.

The group’s annual report confirmed Mr Thwaite’s complete pay jumped to £6.6 million in 2025, up from £4.9 million the earlier 12 months.

He landed a £1.5 million annual bonus, which will probably be paid in early 2026, and £2.5 million in long-term share awards.

The report additionally stated that the financial institution hiked its bonus pool by 11% to £495 million for final 12 months, which was distributed amongst eligible workers.

It stated: “The uplift within the bonus pool for 2025 displays the rise in revenue since 2024 and the robust efficiency throughout the scorecard, significantly in relation to monetary and buyer targets, in addition to modifications within the underlying eligible inhabitants.”

Mr Thwaite stated 2025 was “one other robust 12 months” for the banking group.

“We delivered broad-based progress throughout our three buyer companies, and our optimistic impression is obvious to see; whether or not making residence possession a actuality for extra folks, serving to extra clients to avoid wasting and make investments or supporting extra companies to scale and develop,” he stated.