NatWest Group (NWG) Balance Sheet: Assets & Liabilities

NatWest Group (NWG) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), NatWest Group reported total assets of GBP 714.55B and total liabilities of GBP 671.94B. Shareholders' equity was GBP 42.60B, up 8.2% from GBP 39.38B a year earlier. Total debt stood at GBP 71.83B against GBP 98.23B in cash and short-term investments, a net cash position of GBP 26.41B. That puts debt-to-equity at 1.69, compared with 0.16 a year earlier.

NatWest Group Balance Sheet Analysis

Values in billions GBP

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for NatWest Group plc (NWG) - Annual data in billions GBP
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	85.35	101.09	104.52	145.06	177.82	124.64	81.04	88.90	98.34
Short-Term Investments	12.89	13.88	11.95	9.92	83.41	85.17	64.87	-54.09	1.02
Cash & Short-Term Investments	98.23	106.93	116.47	154.98	261.23	209.81	145.91	89.38	99.35
Accounts Receivable	0.07	0.01	0.29	0.33	0.25	0.22	0.28	0.32	0.38
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-302.49	-187.84
Other Current Assets	0.00	0.00	0.35	0.34	0.36	0.33	0.38	0.44	0.39
Total Current Assets	98.30	106.94	116.87	155.60	261.84	210.35	146.57	89.70	99.73
Non-Current Assets
Property, Plant & Equipment (Net)	4.28	3.97	4.23	4.24	4.23	4.42	4.93	4.35	4.60
Long-Term Investments	445.95	442.16	0.67	0.69	90.92	137.76	120.41	267.45	216.45
Goodwill	5.52	5.68	5.68	5.52	5.52	5.61	5.61	5.61	5.56
Intangible Assets	1.77	7.59	1.93	1.59	1.20	1.05	1.02	1.01	0.99
Other Non-Current Assets	157.47	145.46	128.60	97.61	417.09	439.41	443.51	-224.33	-1.74
Total Non-Current Assets	616.25	601.05	575.80	564.45	520.16	589.14	576.47	224.33	227.59
Total Assets	714.55	707.99	692.67	720.05	781.99	799.49	723.04	694.24	738.06
Current Liabilities
Accounts Payable	0.00	5.05	0.33	0.06	0.00	0.00	0.00	0.00	0.00
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.45	0.47
Other Current Liabilities	480.31	477.58	467.62	489.60	529.40	491.86	429.61	-3.62	-3.54
Total Current Liabilities	480.31	477.84	467.95	489.66	529.41	491.92	429.74	228.54	110.46
Non-Current Liabilities
Long-Term Debt	71.83	6.14	60.07	55.32	58.33	56.53	56.88	0.00	0.00
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.45	0.58
Other Non-Current Liabilities	119.80	124.85	127.46	138.58	152.45	207.21	192.87	-0.91	-1.05
Total Non-Current Liabilities	191.63	190.77	187.53	193.90	210.78	263.74	249.74	647.75	688.96
Total Liabilities	671.94	668.61	655.49	683.56	740.19	755.67	679.48	647.75	688.96
Stockholders' Equity
Common Stock	10.02	8.97	10.84	11.70	11.47	12.13	12.09	16.11	11.97
Retained Earnings	14.42	34.07	10.65	10.02	12.97	12.57	13.95	14.31	17.13
Accumulated Other Comprehensive Income	18.88	18.66	0.00	0.26	0.00	0.00	0.00	3.43	3.45
Treasury Stock	-	-	-	0.26	-	-	-	-	-
Additional Paid-in Capital	0.44	0.29	15.67	2.81	17.36	19.16	17.51	1.01	-4.29
Minority Interest	0.01	0.03	0.03	0.01	0.01	-0.04	0.01	0.75	0.76
Shares Outstanding	7.99	8.04	8.79	9.66	-	-	-	-	-
Total Stockholders' Equity	42.60	39.38	37.16	36.49	41.80	43.86	43.55	45.74	48.33
Total Liabilities & Equity	714.55	707.99	692.67	720.05	781.99	799.49	723.04	694.24	738.06

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About NatWest Group Balance Sheet

How much debt does NatWest Group have?

NatWest Group had total debt of GBP 71.83B as of Dec 31, 2025, against GBP 98.23B in cash and short-term investments. Its debt-to-equity ratio was 1.69. Total debt was GBP 6.14B a year earlier.

What are NatWest Group's total assets?

NatWest Group reported total assets of GBP 714.55B as of Dec 31, 2025, up 0.9% from GBP 707.99B a year earlier. Total liabilities were GBP 671.94B.

What is NatWest Group's shareholders' equity?

NatWest Group's shareholders' equity was GBP 42.60B as of Dec 31, 2025, or about GBP 5.33 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition