London, March 24, 2026, 14:20 GMT
- NatWest was down about 1% at 524.8 pence in London trade by 13:57 GMT, after touching a session low of 521.2p. 1
- Barclays, HSBC and Lloyds also fell as investors cut exposure to lenders amid higher oil prices and tougher Bank of England rate bets. 2
- NatWest’s next scheduled company update is its first-quarter results on May 1. 3
NatWest Group shares slipped on Tuesday, with the stock changing hands at 524.8 pence by 13:57 GMT after opening at 531.8p, as investors kept selling UK lenders on renewed inflation and growth worries tied to the Middle East conflict. The shares traded in a 521.2p-to-532.0p range. 1
The move matters because NatWest is a UK-focused bank, and Tuesday brought a harsher read on the domestic backdrop. Markets are now pricing in two quarter-point Bank of England rate hikes this year, while a purchasing managers’ index, or PMI — a survey of business activity — showed British growth at its weakest in six months. 3
Bank of England chief economist Huw Pill said he saw “upside risks to price stability mounting.” Capital Economics economist Paul Dales said the conflict was already “boosting inflation and extinguishing GDP growth” in Britain. 4
Selling was broad. Reuters said UK banks were down 0.9% and European financials were off 1.4% in Tuesday trade, while Hargreaves Lansdown data showed Barclays down 1.1%, HSBC off 1.62% and Lloyds lower by 0.63%. 5
NatWest was also among the more active London names, with just under 7.0 million shares traded by 13:57 GMT. Even after Monday’s rebound to a 530.2p close, the stock is still about a quarter below its 52-week high of 705.4p and well under the 580.0p level seen on March 18. 1
That retreat has come despite a strong set of full-year numbers last month. NatWest reported 2025 pretax profit of 7.7 billion pounds, lifted its 2028 return on tangible equity — a key measure of profit against shareholder capital — to more than 18%, and announced a 750 million pound buyback for the first half of 2026. 6
Chief Executive Paul Thwaite said then that NatWest was “raising our ambition.” Reuters also reported that some investors had already priced in part of the better outlook after similar target upgrades from Barclays and Lloyds. 6
Still, the next move is not clean. Higher rates can help bank lending margins, but slower growth, higher energy costs and weaker business sentiment can curb borrowing demand and raise concerns about borrowers if the shock lasts; that is the tension hanging over UK bank stocks now. 6
For NatWest, the next hard checkpoint is May 1. Investors will be watching that first-quarter update for any sign that the jump in oil prices, rate expectations and UK cost pressure is starting to shift the bank’s outlook. 3
