NatWest Completes Evelyn Partners Acquisition, Poised for Profit and Wealth Market Growth

NatWest Group PLC (LSE:NWG) has finalized its £2.7 billion acquisition of Evelyn Partners, a move expected to significantly boost the bank's fee income by approximately 20% and enhance its presence in the UK wealth market. The deal, completed on June 30, 2026, establishes the largest private banking and wealth management business in the United Kingdom.

The combined entity will manage approximately £127 billion in assets. NatWest anticipates annual cost savings of around £100 million, with one-off costs estimated at £150 million to achieve these efficiencies. The acquisition is projected to contribute positively to NatWest's growth and return on tangible equity from the first year of ownership by expanding its reach into the higher-growth wealth sector.

Chief Executive Paul Thwaite stated, "Together, we are now the UK's leading Private Banking and Wealth Management business." Further details regarding the impact on full-year guidance will be provided with the interim results on July 31. The acquisition is expected to reduce NatWest's CET1 capital ratio by approximately 130 basis points, bringing it down from the 14.3% recorded at the end of the first quarter.