NatWest, or National Westminster Bank Plc, is a major retail and commercial bank in the United Kingdom.
NatWest Group operates across three primary business segments: Retail Banking, Private Banking, and Commercial & Institutional Banking. Each division serves distinct customer needs with a focus on delivering tailored financial solutions.
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This page will explore what is NatWest, what it does, and whether its comprehensive financial services work for your financial needs.
What is NatWest?
NatWest Group, a prominent UK-based banking and financial services organization, offers a range of financial services from Retail Banking to those tailored to high-net-worth individuals through its Private Banking and Premier Banking divisions.
What does NatWest do?
Retail Banking
NatWest’s Retail Banking division supports individual customers at various stages of their financial journey, from opening their first savings account to investing for future generations.
In 2023, Retail Banking generated £5.93 billion in total income, with net loans reaching £205.2 billion and customer deposits amounting to £188 billion.
The division achieved an operating profit of £2.64 billion and a return on equity of 23.8%, although profitability slightly declined compared to 2022.
Private Banking
Through its Coutts brand, NatWest’s Private Banking division serves high-net-worth individuals, providing bespoke offshore banking, lending, and wealth management services.
The division also manages investment solutions across NatWest Group through its Investment Centre of Expertise.
In 2023, Private Banking reported total income of £990 million and an operating profit of £291 million, both of which decreased from the previous year.
Customer deposits stood at £37.7 billion, with net loans totaling £18.5 billion.
Return on equity for the division was 14.8%, a significant drop from 2022’s 24.5%.
Commercial & Institutional Banking
NatWest’s Commercial & Institutional Banking division offers specialized financial services to a diverse range of businesses, from start-ups to global institutions.
The division provides financing, transaction banking, trading, and risk management solutions to help clients achieve their financial goals and navigate market challenges.
In 2023, the division generated £7.42 billion in total income and posted an operating profit of £3.24 billion, reflecting year-on-year growth.
Net loans to customers reached £131.9 billion, while customer deposits declined to £193.4 billion.
The return on equity improved to 15.4% from 12.2% in 2022.
NatWest Group Executive Team
- Paul Thwaite – Chief Executive Officer
Appointed in July 2023, Paul previously served as Chief Executive of the Commercial & Institutional business at NatWest. He played a key role in formulating the Group’s strategies in 2014 and 2019, led the bank’s Covid-19 support initiatives for businesses, and developed its Payments and Embedded Finance strategy. He brings expertise in transformation, balance sheet management, and risk. - Katie Murray – Group Chief Financial Officer
Appointed in January 2019, Katie is a Chartered Accountant with over 30 years of experience in finance and accounting. She joined NatWest in 2015 as Director of Finance and later became Deputy CFO in 2017. Previously, she worked at Old Mutual as Group Finance Director and spent 13 years at KPMG. She specializes in capital management, investor relations, and financial planning. - Emma Crystal – CEO, Coutts and Wealth Businesses
Appointed in July 2024, Emma oversees NatWest’s private banking and wealth management arm. She previously held leadership roles at UBS and Credit Suisse, including Chief Sustainability Officer and Head of Wealth Management for Northern & Western Europe. She has experience in sustainable finance, family offices, and global markets. - David Lindberg – CEO, Retail Banking
Appointed in September 2020, David leads NatWest’s Retail Banking division, along with the Payments Centre of Expertise and NatWest Boxed. He previously held senior roles at Westpac, Commonwealth Bank of Australia, and ANZ, focusing on retail banking, product and digital strategy, and customer segmentation. - Robert Begbie – CEO, NatWest Commercial & Institutional
Appointed in March 2024, Robert oversees the bank’s Commercial & Institutional business, supporting a wide range of clients from start-ups to multi-nationals. With over 40 years at NatWest, he has extensive experience in treasury, capital markets, and balance sheet management.
Where are NatWest offices?
NatWest Group is a UK-centred bank with its headquarters in Edinburgh, Scotland. They also have offices for international markets in Europe, Asia and the U.S.
Headquarters
- Address: Gogarburn, 175 Glasgow Road, Edinburgh EH12 1HQ
Poland
- Address: Iłżecka 26, building E, 02-135 Warszawa, Poland
- Phone: +48 22 573 05 00
Western Europe
- Address: NatWest Bank, Ulmenstrasse 30, 7th Floor, Frankfurt am Main, 60325, Germany
- Phone: +49 69 668 152 400
Singapore
- Address: NatWest Markets, One Raffles Quay, #23-10, South Tower, Singapore 048583
Japan
- Address: NatWest Markets, Shin-Marunouchi Center Building, 1-6-2 Marunouchi, Chiyoda-ku, Tokyo, Japan
United States
- Address: NatWest Markets, 600 Washington Boulevard, Stamford, CT 06901, United States
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