London, May 19, 2026, 13:13 (BST)
NatWest Group shares picked up in London on Tuesday, getting a lift from a stronger market and new policy support after the government relaxed ring-fencing rules for major UK lenders.
London Stock Exchange trading stayed on its usual weekday schedule, open from 8:00 a.m. to 4:30 p.m. local. AJ Bell’s delayed numbers pegged NatWest at a 570.6p sell and 570.8p buy, up 4.6p or 0.81%. Recent deals happened around 12:53 BST on volume of about 3.29 million shares. The figures value NatWest at about £45.44 billion.
The move was small. But NatWest is once again seen as a clearer UK growth stock: now privately owned, producing capital, and linked to household and business credit as officials push banks to increase lending.
FTSE 100 rose 0.57% to 10,382.15, according to Reuters/LSEG market data, offering a steadier setting for UK banks than last week’s sell-off in the sector. The broader tape was firmer.
UK regulators on Monday outlined changes to ring-fencing, the rule that requires big banks to split retail and investment banking. The government said up to 80 billion pounds more may be available for business loans. Rule changes affect banks with over 35 billion pounds in retail deposits, such as NatWest, Barclays and Lloyds. Barclays disagreed with major changes. NatWest CEO Paul Thwaite said the new plan “have the potential to increase lending and investment.” SeaPoint Insights analyst John Cronin called the move too cautious, saying “timidity prevailed.” Reuters
NatWest put out a new UK lending plan. The bank said Monday it will put 20 billion pounds toward growth in the North of England over ten years, backing things like housing, transport, energy, infrastructure and regeneration. Thwaite called the North “a growth engine for the UK.” Oliver Holbourn, CEO of the National Wealth Fund, said NatWest’s move “aligns with these ambitions.” NatWest Group
NatWest’s latest pledge lines up with its first-quarter numbers out this month. The bank posted total income excluding notable items of 4.2 billion pounds, an operating profit of 2.0 billion pounds, and attributable profit of 1.4 billion pounds. Return on tangible equity landed at 18.2%. NatWest still sees full-year income, excluding notable items, reaching the top of its 17.2 billion to 17.6 billion pound forecast. Thwaite said NatWest entered the year with “positive momentum.” NatWest Group Investors
NatWest shares dropped after the May 1 results as investors homed in on weaker economic signals and non-interest income that missed analyst targets by 7%. Reuters said the bank trimmed its UK GDP growth outlook for this year to 0.4%, down from 1.0%, and cut its house-price growth forecast to 0.7% from 3.4%. The bank also booked a 283 million pound impairment charge for possible bad loans.
NatWest faces a straightforward but tough issue in the market. More lending only matters if loan demand stays strong and borrowers remain in good shape.
NatWest is still working to leave its bailout past behind. Chair Rick Haythornthwaite told its annual meeting in April that the group’s return to full private hands in May 2025 would be a “significance” year, as the UK government plans to sell its last shares. NatWest Group
Shares stayed above their 12-month low of 471 pence on Tuesday, but AJ Bell still trades far from its one-year high at 705.4 pence. The stock remains cautious, with policy giving some support, but results will depend on what happens with credit costs, rates, and the UK economy.
