-- NatWest Group (NWG.L) on Friday upgraded its full-year 2026 income guidance after reporting a "strong" performance in the first quarter.
Given the current economic trajectory and interest rate outlook, the British lender now projects its 2026 income, excluding notable items, to reach the top end of its previous forecast of between 17.2 billion pounds sterling and 17.6 billion pounds.
The banking group's profit attributable to ordinary shareholders for the three months ended March 31 climbed 14.4% year over year to 1.43 billion pounds. EPS moved to 0.178 pound from 0.154 pound, against the FactSet-compiled estimate of 0.2 pound.
Operating profit before tax grew 12.2% to 2.03 billion pounds. Meanwhile, total income also rose to 4.36 billion pounds from 3.98 billion pounds, above the estimate of 4.32 billion pounds from FactSet, with net interest income increasing 12.2% to 3.39 billion pounds.
Overall income gains were fueled by expanding deposit margins and lending balance growth, partly counterbalanced by a decrease in asset margins. NatWest saw positive momentum across its business segments, with private banking and wealth management reporting a 9.8% increase in total income to 291 million pounds.
By Friday midday, the London-listed stock was down over 3%.