NatWest Group PLC (XTER:RYSD)
€ 7.99 -0.15 (-1.87%) Market Cap: 63.22 Bil Enterprise Value: 62.16 Bil PE Ratio: 9.19 PB Ratio: 1.25 GF Score: 75/100

NatWest Group PLC at Barclays Global Financial Services Conference Transcript

Sep 15, 2026 / 01:00PM GMT
Aman Rakkar;John
Barclays Services Corp - Equity Analyst

Okay, cool. Okay, thanks, everyone. Thank you for joining us on the European Track, the Barclays Global Financial Services Conference in New York. My name is Aman Rakkar. I'm the Head of UK and Irish Banks at Barclays. Delighted to be joined this morning by Paul Thwaite, NatWest Group CEO.

Paul, welcome to New York. We really appreciate you making yourself available. It's good to be here. Good morning, everybody. So perhaps we can start with the bigger picture. NatWest is delivering a close to 20% ROTE, more than 240 basis points of capital generation and strong growth with minimal credit risk. You've seen the ebb and flow of banking cycles.

This is a euphemism for a very experienced, long tenure at NatWest. What makes you think this performance is sustainable? Is it a compliment? It is, yes. What makes you think this performance is sustainable? And with ROTE already tracking comfortably above your greater than 18% target, is there scope for you to kind of refine or raise your medium-term ambition?

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