NatWest Group PLC shares fell 4% to 632.8p, having recently hit a post-2008 high, after the bank revealed it had struck a £2.7 billion deal to buy Evelyn Partners. Ahead of NatWest's financial results on Friday, the purchase of the wealth management firm drew a mixed response from City analysts, with attention focused on price, cost savings and what it means for the wider wealth sector.
NatWest Group PLC has agreed to buy wealth manager Evelyn Partners for £2.7 billion and announced a £750 million share buyback. The FTSE 100-listed bank said the acquisition would expand its private banking and wealth management arm to around 20% of group customer assets and liabilities, as well as increasing income from fees rather than lending.
The acquisition more than doubles NatWest's assets under management and administration to £127 billion.
The UK's NatWest Group said on Monday it had agreed to buy Evelyn Partners in a deal valuing one of Britain's largest wealth managers at 2.7 billion pounds ($3.68 billion), including debt.
NatWest on Wednesday said it would provide a package of 10 billion pounds ($13.72 billion) to the UK social housing sector by 2028 to support the delivery of affordable housing across the country.
A positive tone on UK banks was struck by analysts at Citi at the start of 2026, with NatWest Group PLC (LSE:NWG) and HSBC Holdings PLC (LSE:HSBA) seen as best placed to benefit from resilient earnings drivers and macro stabilisation. In a note focusing on the "big picture" for the sector, analyst Andrew Coombs said concerns over the UK and Hong Kong economies were overstated.
Lloyds Banking Group PLC (LSE:LLOY), NatWest Group PLC (LSE:NWG) and the UK taxpayer-backed National Wealth Fund (NWF) are reportedly close to taking control of broadband provider Gigaclear, after an attempted sale failed. Creditors including NWF, Lloyds and NatWest will now take control of the "heavily indebted" outfit, the Financial Times reported, citing people with knowledges of the matter.
NatWest (NWG) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
HSBC Holdings PLC (LSE:HSBA) and NatWest Group PLC (LSE:NWG) were among top picks as Citi said the European banking rally has "further to run" going into 2026, with attractive valuations, improving income trends, and strong capital return yields. Analysts said they see further upside to consensus earnings forecasts as net interest income (NII) recovers and non-NII growth continues.
NatWest Group is in exclusive talks to sell its 85% stake in workplace pension provider Cushon to U.S. insurance broker Willis Towers Watson just two years after the British bank acquired the business, two people with knowledge of the matter said.
NatWest Group plc ( NWG ) JPMorgan UK Leaders Conference November 19, 2025 6:15 AM EST Company Participants Katie Murray - Group CFO & Executive Director Conference Call Participants Sheel Shah - JPMorgan Chase & Co, Research Division Presentation Sheel Shah JPMorgan Chase & Co, Research Division Thank you. Thank you very much for your time, everyone.
Shares in the big three domestic lenders, Lloyds Banking Group PLC (LSE:LLOY), NatWest Group PLC (LSE:NWG) and Barclays PLC (LSE:BARC), helped lift the FTSE 100 on Tuesday after reports that the sector would escape extra taxes in tomorrow's Budget. Chancellor Rachel Reeves is preparing to spare banks from the tax raid that had been expected, the Financial Times reported.