Income Statement NatWest Group plc

Equities

NWG

GB00BM8PJY71

Banks

Real-time Estimate Cboe Europe Other stock markets 07:18:55 2024-09-18 am EDT			5-day change	1st Jan Change
337.30 ^GBX	-1.14%		+1.91%	+53.56%

Sep. 17	Former NatWest CEO Alison Rose joins law firm Mishcon de Reya as advisor	RE
Sep. 13	UK chancellor meets City bosses as proposed banking reforms relaxed	AN

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Published financial data: NATWEST GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	11.38B	10.07B	9.31B	12.64B	21.03B
Interest Income, Total	11.38B	10.07B	9.31B	12.64B	21.03B
Interest On Deposits	3.33B	2.32B	1.7B	2.8B	9.98B
Interest Expense, Total	3.33B	2.32B	1.7B	2.8B	9.98B
Net Interest Income	8.05B	7.75B	7.61B	9.84B	11.05B
Income From Trading Activities	932M	1.12B	323M	1.13B	794M
Gain (Loss) on Sale of Assets	1.16B	-3M	18M	-5M	-21M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	43M	96M	117M	-168M	-43M
Income (Loss) on Equity Invest. (Income Block)	-14M	-30M	216M	-30M	-9M
Total Other Non Interest Income	3.03B	2.24B	2.37B	2.54B	2.98B
Non Interest Income, Total	5.15B	3.43B	3.04B	3.48B	3.7B
Revenues Before Provison For Loan Losses	13.2B	11.18B	10.66B	13.32B	14.75B
Provision For Loan Losses	696M	3.24B	-1.28B	337M	578M
Total Revenues	12.5B	7.94B	11.94B	12.98B	14.17B
Salaries And Other Employee Benefits	3.48B	3.4B	3.22B	3.66B	3.85B
Occupancy Expense	1.84B	1.78B	1.81B	1.94B	2.09B
Selling General & Admin Expenses, Total	2.62B	1.71B	1.94B	2.09B	2.06B
Non Interest Expense, Total	7.94B	6.89B	6.97B	7.69B	8B
EBT, Excl. Unusual Items	4.56B	1.05B	4.96B	5.29B	6.18B
Restructuring Charges	-1.38B	-1.01B	-787M	-	-
Total Merger & Related Restructuring Charges	290M	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-	-2M	-	-	-
Insurance Settlements	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	767M	-382M	-145M	-161M	3M
EBT, Incl. Unusual Items	4.23B	-351M	4.03B	5.13B	6.18B
Income Tax Expense	432M	83M	996M	1.28B	1.43B
Earnings From Continuing Operations	3.8B	-434M	3.04B	3.86B	4.74B
Earnings Of Discontinued Operations	-	-	276M	-262M	-112M
Net Income to Company	3.8B	-434M	3.31B	3.6B	4.63B
Minority Interest	-261M	62M	-44M	-6M	4M
Net Income - (IS)	3.54B	-372M	3.27B	3.59B	4.64B
Preferred Dividend and Other Adjustments	406M	381M	318M	249M	242M
Net Income to Common Incl Extra Items	3.13B	-753M	2.95B	3.34B	4.39B
Net Income to Common Excl. Extra Items	3.13B	-753M	2.67B	3.6B	4.51B
Per Share Items
Net EPS - Basic	0.28	-0.07	0.27	0.34	0.48
Basic EPS - Continuing Operations	0.28	-0.07	0.25	0.36	0.49
Basic Weighted Average Shares Outstanding	11.21B	11.23B	10.79B	9.87B	9.16B
Net EPS - Diluted	0.28	-0.07	0.27	0.34	0.48
Diluted EPS - Continuing Operations	0.28	-0.07	0.25	0.36	0.49
Diluted Weighted Average Shares Outstanding	11.24B	11.25B	10.83B	9.93B	9.22B
Normalized Basic EPS	0.23	0.06	0.28	0.33	0.42
Normalized Diluted EPS	0.23	0.06	0.28	0.33	0.42
Dividend Per Share	0.02	0.03	0.11	0.14	0.17
Payout Ratio	30.26	-102.42	30.94	40.51	36.63
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
Effective Tax Rate - (Ratio)	10.21	-23.65	24.7	24.84	23.21
Total Current Taxes	551M	105M	1B	1.51B	1.5B
Total Deferred Taxes	-119M	-22M	-9M	-236M	-62M
Normalized Net Income	2.59B	716M	3.06B	3.3B	3.86B
Non-Cash Pension Expense	-5M	7M	-17M	11M	17M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	83M	60M	49M	60M	51M
Total Stock-Based Compensation	83M	60M	49M	60M	51M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	79.81B	132B	186B	153B	114B
Investment Securities, Total	96.43B	99.99B	93.74B	73.13B	102B
Trading Asset Securities, Total	182B	207B	137B	115B	91.91B
Total investments	279B	307B	231B	188B	194B
Gross Loans	320B	343B	339B	353B	360B
Allowance For Loan Losses	-3.79B	-6.19B	-3.81B	-3.43B	-3.64B
Other Adjustments to Gross Loans	-	-	-891M	-889M	-1.02B
Net Loans	317B	337B	335B	348B	356B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	4.93B	4.42B	4.23B	4.24B	4.23B
Goodwill	5.61B	5.61B	5.52B	5.52B	5.68B
Other Intangibles, Total	1.02B	1.05B	1.2B	1.59B	1.93B
Investment in Real Estate	-	-	-	-	-
Accrued Interest Receivable	275M	216M	248M	327M	292M
Other Receivables	46M	192M	190M	279M	49M
Restricted Cash	8.57B	7.67B	4.35B	4.96B	4.57B
Other Current Assets, Total	21.02B	600M	9.6B	7.44B	1.83B
Deferred Tax Assets Long-Term (Collected)	1.01B	901M	1.2B	2.18B	1.89B
Other Long-Term Assets, Total	5.56B	3.41B	3.22B	3.46B	7.94B
Total Assets	723B	799B	782B	720B	693B
Liabilities
Accrued Expenses, Total	2.28B	1.31B	1.51B	1.41B	1.41B
Interest Bearing Deposits	385B	442B	484B	461B	441B
Institutional Deposits	-	-	-	-	-
Non-Interest Bearing Deposits	-	-	-	-	-
Total Deposits	385B	442B	484B	461B	441B
Short-Term Borrowings	156B	180B	132B	111B	97.68B
Current Portion of Long-Term Debt	7.8B	5.07B	7.83B	8.71B	10.05B
Current Portion of Leases	194M	185M	238M	137M	102M
Long-Term Debt	43.12B	42.66B	40.2B	39.93B	38.16B
Long-Term Leases	1.63B	1.51B	1.02B	981M	568M
Current Income Taxes Payable	132M	63M	12M	55M	332M
Other Current Liabilities - (Bank / Utility Template)	59.22B	53.51B	47B	48.23B	55.81B
Unearned Revenue Non Current	362M	361M	319M	355M	402M
Pension & Other Post Retirement Benefits	119M	121M	114M	98M	99M
Deferred Tax Liability Non-Current	266M	291M	359M	227M	141M
Other Non Current Liabilities	23.46B	29.49B	24.93B	11.9B	9.86B
Total Liabilities	679B	756B	740B	684B	655B
Preferred Stock Redeemable	-	-	-	-	-
Preferred Stock Non Redeemable	1M	1M	1M	-	-
Preferred Stock - Others	495M	493M	493M	-	-
Total Preferred Equity	496M	494M	494M	-	-
Common Stock, Total	12.09B	12.13B	11.47B	10.54B	10.54B
Additional Paid In Capital	598M	617M	667M	1.16B	305M
Retained Earnings	13.95B	12.57B	12.97B	10.02B	10.64B
Treasury Stock	-42M	-24M	-371M	-258M	-503M
Comprehensive Income and Other	16.46B	18.08B	16.57B	15.03B	16.17B
Total Common Equity	43.05B	43.37B	41.3B	36.49B	37.16B
Minority Interest	9M	-36M	7M	8M	31M
Total Equity	43.56B	43.82B	41.8B	36.5B	37.19B
Total Liabilities And Equity	723B	799B	782B	720B	693B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	11.22B	11.25B	10.47B	9.66B	8.79B
ECS Total Common Shares Outstanding	11.22B	11.25B	10.47B	9.66B	8.79B
Book Value / Share	3.48	3.41	3.57	3.37	3.78
Tangible Book Value	36.43B	36.71B	34.58B	29.37B	29.54B
Tangible Book Value Per Share	2.89	2.82	2.93	2.64	2.92
Tangible Book Value Per Share (As Reported)	2.89	2.81	2.93	2.64	2.92
Average Assets	-	-	-	-	-
Average Loans	-	-	-	-	-
Total Debt	208B	229B	182B	161B	147B
Deposits at Interest - Cash	22.73B	14.71B	12.95B	13.62B	14.56B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-7.81B	-8.38B	-10.98B	-10B	-7.52B
Net Debt	-88.56B	-154B	-189B	-149B	-110B
Equity Method Investments, Total	436M	449M	716M	688M	668M
Full Time Employees	64.4K	59.82K	58.74K	61.86K	61.25K
Number Of Offices	-	800	800	-	-
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.54B	-372M	3.27B	3.59B	4.64B
Depreciation, Depletion & Amortization	1.15B	623M	536M	492M	496M
Amortization of Goodwill and Intangible Assets - (CF)	291M	282M	300M	-	-
Total Depreciation, Depletion & Amortization	1.44B	905M	836M	492M	496M
Amortization of Deferred Charges, Total	-	-	-	341M	438M
(Gain) Loss On Sale of Asset - (CF)	-2.28B	0	-25M	154M	125M
(Gain) Loss on Sale of Investments - (CF)	-258M	-1.3B	1.86B	1.44B	-540M
Total Asset Writedown	44M	9M	87M	-	-
Restructuring Activities	-	-	-	-	-
Provision for Credit Losses	366M	3.24B	-1.28B	337M	578M
(Income) Loss On Equity Investments - (CF)	-	-	-216M	30M	9M
Change in Trading Asset Securities	-17.34B	-12.03B	67.45B	18.61B	21.15B
Change in Other Net Operating Assets (Collected)	2.2B	-23.76B	-74.59B	-31.73B	-29.62B
Other Operating Activities	3.65B	-201M	2.33B	-1.2B	2.62B
Net Cash From Discontinued Operations	-	-	222M	-333M	-118M
Cash from Operations	-8.63B	-33.51B	-60M	-8.27B	-223M
Capital Expenditure	-559M	-376M	-901M	-639M	-811M
Sale of Property, Plant, and Equipment	428M	348M	165M	154M	128M
Cash Acquisitions	-55M	-	-3.13B	-	-139M
Divestitures	351M	288M	114M	6.27B	5.56B
Purchase / Sale of Intangible Assets	-380M	-348M	-479M	-743M	-744M
Investment in Marketable and Equity Securities, Total	-1.36B	7.11B	6.66B	13.46B	-19.7B
Other Investing Activities, Total	854M	521M	636M	553M	1.01B
Cash from Investing	-716M	7.55B	3.06B	19.06B	-14.69B
Long-Term Debt Issued, Total	4.22B	636M	2.74B	-	4.58B
Total Debt Issued	4.22B	636M	2.74B	-	4.58B
Long-Term Debt Repaid, Total	-2.39B	-2.38B	-3.45B	-5.39B	-5.49B
Total Debt Repaid	-2.39B	-2.38B	-3.45B	-5.39B	-5.49B
Issuance of Common Stock	17M	2.22B	937M	-	-
Repurchase of Common Stock	-21M	-2M	-1.81B	-2.05B	-2.42B
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-1.03B	-355M	-992M	-1.45B	-1.7B
Preferred Dividends Paid	-39M	-26M	-19M	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-1.07B	-381M	-1.01B	-1.45B	-1.7B
Net Increase (Decrease) in Deposit Accounts - (CF)	5.53B	62.6B	53.74B	-35.33B	-17.22B
Special Dividend Paid	-2.35B	-	-	-1.75B	-
Other Financing Activities, Total	-943M	-	-5M	-5M	-1.29B
Cash from Financing	2.98B	62.7B	51.14B	-45.98B	-23.52B
Foreign Exchange Rate Adjustments	-1.98B	1.88B	-2.64B	2.93B	-1.19B
Net Change in Cash	-8.35B	38.61B	51.51B	-32.26B	-39.62B
Supplemental Items
Cash Interest Paid	4.26B	3.6B	2.64B	3.43B	10.15B
Cash Income Tax Paid (Refund)	278M	214M	856M	1.22B	1.03B
Net Debt Issued / Repaid	1.82B	-1.74B	-716M	-5.39B	-902M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.54	-0.06	0.38	0.51	0.67
Return On Equity %	8.44	-0.99	7.09	9.85	12.88
Return on Common Equity	7.1	-1.74	6.32	9.26	12.24
Shareholders Value Added	-786M	-4.64B	-1.02B	-1.08B	217M
Margin Analysis
SG&A Margin	63.55	86.82	58.41	59.22	56.42
Net Interest Income / Total Revenues %	64.38	97.64	63.8	75.82	77.97
EBT Excl. Non-Recurring Items Margin %	36.45	13.18	41.59	40.78	43.57
Income From Continuing Operations Margin %	30.4	-5.47	25.44	29.71	33.48
Net Income Margin %	28.31	-4.69	27.38	27.65	32.71
Net Avail. For Common Margin %	25.06	-9.49	22.4	27.75	31.8
Normalized Net Income Margin	20.69	9.02	25.63	25.44	27.26
Asset quality
Nonperforming Loans / Total Loans %	2.06	1.85	1.48	1.44	1.54
Nonperforming Loans / Total Assets %	0.91	0.8	0.64	0.71	0.8
Nonperforming Assets / Total Assets %	0.91	0.8	0.64	0.71	0.8
NPAs / Loans and OREO