NatWest Group annual net debt
2019
2020
2021
2022
2023
2024
2025
NatWest Group Net Debt Growth & History (NWG)
NatWest Group's net debt was −£94.90B for fiscal 2025.
View full NatWest Group company overviewNatWest Group annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | −£94.90B | £9.32B | — |
| 2024 | 2024-12-31 | −£104.22B | £13.94B | — |
| 2023 | 2023-12-31 | −£118.15B | £39.18B | — |
| 2022 | 2022-12-31 | −£157.33B | £32.11B | — |
| 2021 | 2021-12-31 | −£189.44B | −£51.94B | — |
| 2020 | 2020-12-31 | −£137.50B | −£38.74B | — |
| 2019 | 2019-12-31 | −£98.77B | — | — |
NatWest Group quarterly net debt
Q4.19
Q2.20
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −£916.0M | £32.00B | — |
| Q1 2026 | 2026-03-31 | −£72.32B | — | — |
| Q4 2025 | 2025-12-31 | −£94.90B | £9.32B | — |
| Q3 2025 | 2025-09-30 | −£78.55B | — | — |
| Q2 2025 | 2025-06-30 | −£32.91B | — | — |
| Q4 2024 | 2024-12-31 | −£104.22B | £13.94B | — |
| Q4 2023 | 2023-12-31 | −£118.15B | £39.18B | — |
| Q4 2022 | 2022-12-31 | −£157.33B | £32.11B | — |
| Q4 2021 | 2021-12-31 | −£189.44B | −£51.94B | — |
| Q4 2020 | 2020-12-31 | −£137.50B | −£38.74B | — |
| Q2 2020 | 2020-06-30 | −£120.89B | — | — |
| Q4 2019 | 2019-12-31 | −£98.77B | — | — |
NatWest Group net debt trends
Over the last five fiscal years, NatWest Group's net debt increased from −£137.50B to −£94.90B, a change of £42.60B. The latest reported quarter, Q2 2026, shows −£916.0M.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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