NatWest Group PLC (NWG) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.385 -- 00:00:06.553 Good morning and welcome to NatWest Group's H1 2025 results management presentation. 00:00:06.553 -- 00:00:12.300 Today's presentation will be hosted by CEO Paul Thwaite and CFO Katie Murray. 00:00:12.300 -- 00:00:16.382 After the presentations, we will take questions. 00:00:19.469 -- 00:00:22.052 Good morning and thank you for joining us. 00:00:22.052 -- 00:00:26.738 I'll start with a brief business update. Katie will take you through the numbers and 00:00:26.738 -- 00:00:31.453 we'll then open it up for questions. You will all be aware that since our first quarter 00:00:31.453 -- 00:00:35.618 results, the government has sold its remaining stake in NatWest Group. 00:00:35.618 -- 00:00:39.922 So we are now privately owned for the first time in 17 years. 00:00:39.922 -- 00:00:45.328 This is clearly an important milestone. With government ownership and a significant restructuring 00:00:45.328 -- 00:00:50.793 of the bank behind us, we are attracting new investors and driving growth. 00:00:50.793 -- 00:00:54.938 Customer activity has helped to deliver a strong first half. 00:00:54.938 -- 00:00:58.267 So let's turn to the financial headlines. 00:00:58.267 -- 00:01:02.490 Customer lending grew 3.2% to $384 00:01:03.234 -- 00:01:08.399 billion. Customer deposits were up 1% to $436 00:01:08.963 -- 00:01:15.352 billion. And assets under management and administration grew 5.9% to $52 00:01:15.352 -- 00:01:20.187 billion. This has driven strong financial performance. 00:01:20.187 -- 00:01:23.590 Income grew 13.7% to 8 00:01:23.590 -- 00:01:27.993 billion, while costs reduced 1.4% to 3.9 00:01:28.355 -- 00:01:33.881 billion. This resulted in operating profit of 3.6 billion and attributable 00:01:33.881 -- 00:01:37.184 profit of 2.5 billion. 00...