London, Jan 15, 2026, 08:50 GMT — Regular session.
- NatWest shares climbed roughly 1.2% in early London trading.
- The bank revealed additional share buybacks as part of its ongoing repurchase programme.
- Investors are eyeing the Feb. 13 annual results for fresh guidance on targets and plans for capital returns.
NatWest Group (NWG.L) shares climbed 1.2% to 637.8 pence by 0850 GMT on Thursday, pushing ahead of the broader FTSE as the bank announced additional buybacks in routine filings. (Investing)
A steady stream of repurchase notices has kept the spotlight on shareholder returns, even as UK bank stocks fluctuate with shifts in interest-rate expectations and global risk appetite.
This matters now because NatWest’s next major event is near enough for investors to begin adjusting their positions. Medium-term targets and the pace of buybacks usually get revisited when full-year results drop, and faster-than-expected UK rate cuts could shift the calculations for bank profits.
NatWest announced it purchased 842,406 shares on Jan. 14 at a volume-weighted average price of 630.97 pence, under its ongoing buyback programme. The bank confirmed these shares are set for cancellation. (TradingView)
According to a filing, the bank snapped up 845,398 shares on Jan. 13 at a volume-weighted average price of 630.81 pence, also via Merrill Lynch International. (SEC)
It’s been a volatile scene. On Wednesday, London’s FTSE 100 hit a new high, lifted by gains in miners and healthcare shares. Investors weighed clues on the future of interest rates, while XTB’s Kathleen Brooks pointed to geopolitical risks funneling money into gold’s relative safety. (Reuters)
On the banking front, Morgan Stanley noted Wednesday that NatWest’s upcoming full-year results might include revised medium-term goals. The firm expects NatWest to set an 18% return-on-tangible-equity target for 2028. It also highlighted a potential cut in NatWest’s “go-to” common equity tier 1 ratio from the current 13%-14% range down to 13%. That shift could unlock more capacity for distributions. Meanwhile, Morgan Stanley trimmed its NatWest buyback forecast to £1 billion, down from £1.25 billion, citing higher anticipated Basel-related risk-weight inflation. (Investing.com Australia)
The upside scenario still hinges on two risks that could flip the script: the speed of rate cuts and the capital requirements tied to fresh regulations. Should margins shrink quicker than anticipated, or if regulators raise capital demands, buybacks could stall and the stock might lose momentum.
NatWest will release its annual results on Friday, Feb. 13, followed by a management presentation that same morning, the bank’s investor information shows. (NatWest Investors)
