PWLBtoday
Counterparty/NatWest Markets Plc
Built 2026-09-14 17:10 UTCBeta
NA

NatWest Markets Plc

Bank · UKAA · LEI RR3QWICWWIPCS8A4S074
Counterparty scoreBand B
76
93th percentile of 15 peers
coverage92% of the method
Rating81w 40
Capital87w 25
Liquidity80w 15
Stability30w 10
Assets—w 5
Profit27w 5
Rating anchor and public pillars with published weights (w). Market overlay +1.5, bounded at ±10. Method
Agency ratingscompositeA+Stable (bonds)
Fitch
AA▶
ST F1+
2026-05-12
S&P
A▶
ST A-1
2026-02-13
Moody's
A1▶
ST P-1 · deposit
2026-04-22
DBRS
A(H)
ST R-1(M)
2025-09-17
JCR
AA-
2025-07-11
ESMA European Rating Platform, checked daily · ▲ positive ▼ negative ◆ watch ▶ stableRating history
CET1 ratio
18.3%
0.0 vs prior2026-06-30
Leverage ratio
4.9%
+0.2 vs prior2026-06-30
Total capital
25.8%
0.0 vs prior2026-06-30
LCR
204%
0.0 vs prior2026-06-30
NSFR
122%
+1.0 vs prior2026-06-30
Risk-weighted assets
22.1bn
−0.5% vs prior2026-06-30
15 series held, up to 48 periods each. Click a card to open it full size with every point and its date. The grey band on a ratio is where this bank’s peer group stands today, quartile to quartile, with the median dashed — not a peer history.
Standing
Capital
Liquidity and funding
Profitability and efficiency
Balance sheet

Rating history

Every action the European Rating Platform holds, since 2015. The composite is the median of the agencies on the day.
15upgrades
3downgrades
2.5notches stronger
20162017201820192020202120222023202420252026A+AA-BBB+composite BBB+ from 2015-07-01composite BBB+ from 2015-09-29composite BBB+ from 2016-02-04composite BBB+ from 2016-12-05composite A- from 2019-05-16composite A from 2021-07-13composite A+ from 2023-09-22A+COMPOSITEFitchFitch BBB+ from 2015-07-01 to 2018-12-14BBB+Fitch A from 2018-12-14 to 2020-04-01AFitch A+ from 2020-04-01 to 2025-06-25A+Fitch AA- from 2025-06-25 to 2026-05-12AA-Fitch AA from 2026-05-12, stillFitch: stable outlook from 2016-05-06Fitch: positive outlook from 2018-05-15Fitch: stable outlook from 2018-12-14Fitch: watch negative outlook from 2019-03-01Fitch: stable outlook from 2019-12-20Fitch: negative outlook from 2020-04-01Fitch: stable outlook from 2021-07-05Fitch: positive outlook from 2024-11-21Fitch: stable outlook from 2025-06-25AAS&PS&P BBB+ from 2015-07-01 to 2019-05-16BBB+S&P A- from 2019-05-16 to 2023-04-12A-S&P A from 2023-04-12, stillAS&P: stable outlook from 2015-07-02S&P: positive outlook from 2016-01-19S&P: stable outlook from 2016-07-07S&P: negative outlook from 2017-10-05S&P: stable outlook from 2017-11-15S&P: positive outlook from 2018-05-31S&P: stable outlook from 2019-05-16S&P: negative outlook from 2020-04-23S&P: stable outlook from 2021-06-24AMoody'sMoody's A3 from 2015-07-01 to 2017-06-15A3Moody's A2 from 2017-06-15 to 2018-04-04A2Moody's Baa2 from 2018-04-04 to 2020-11-24Baa2Moody's A3 from 2020-11-24 to 2021-07-13A3Moody's A2 from 2021-07-13 to 2022-09-22A2Moody's A1 from 2022-09-22, stillA1Moody's: stable outlook from 2015-07-01Moody's: positive outlook from 2015-12-14Moody's: stable outlook from 2017-06-15Moody's: negative outlook from 2017-09-27Moody's: watch negative outlook from 2018-01-30Moody's: positive outlook from 2018-07-16Moody's: stable outlook from 2022-09-22A1DBRSDBRS A(L) from 2015-07-01 to 2015-09-29DBRS BBB(H) from 2015-09-29 to 2016-02-04DBRS A from 2016-02-04 to 2016-06-16DBRS BBB(H) from 2016-06-16 to 2021-09-27BBB(H)DBRS A(L) from 2021-09-27 to 2023-09-22A(L)DBRS A from 2023-09-22 to 2024-09-19ADBRS A(H) from 2024-09-19, stillA(H)DBRS: stable outlook from 2016-06-16DBRS: positive outlook from 2019-06-17DBRS: stable outlook from 2020-06-02DBRS: positive outlook from 2021-05-28DBRS: stable outlook from 2024-09-19A(H)JCRJCR A from 2019-02-22 to 2023-09-22AJCR AA- from 2023-09-22, stillAA-JCR: stable outlook from 2019-02-22AA-
AAACCCpositive outlookstablenegativewent on watch

Every move since 2015

  • 2026-05-12↑Fitch upgrade AA- → AA · 1 notch
  • 2025-06-25↑Fitch upgrade A+ → AA- · 1 notch
  • 2024-09-19↑DBRS upgrade A → A(H) · 1 notch
  • 2023-09-22↑DBRS upgrade A(L) → A · 1 notch
  • 2023-09-22↑JCR upgrade A → AA- · 2 notches
  • 2023-04-12↑S&P upgrade A- → A · 1 notch
  • 2022-09-22↑Moody's upgrade A2 → A1 · 1 notch
  • 2021-09-27↑DBRS upgrade BBB(H) → A(L) · 1 notch

Every rating held today

AgencyTypeRatingOutlookDate
DBRSissuer credit · long-termA(H)—2025-09-17
DBRSissuer credit · short-termR-1(M)—2025-09-17
Fitchissuer default · long-termAAstable2026-05-12
Fitchissuer default · short-termF1+—2026-05-12
JCRissuer credit · long-termAA-—2025-07-11
Moody'scounterparty · long-termA1—2026-04-22
Moody'sdeposit · long-termA1stable2026-04-22
Moody'scounterparty · short-termP-1—2026-04-22
Moody'sdeposit · short-termP-1—2026-04-22
S&Pissuer credit · long-termAstable2026-02-13
S&Presolution counterparty · long-termA+—2026-02-13
S&Pissuer credit · short-termA-1—2026-02-13
S&Presolution counterparty · short-termA-1—2026-02-13
Source: ESMA European Rating Platform, checked daily, with agency attribution.
Share price, 12 months · NatWest GroupGBp
462.30537.80613.30688.8025-09: 518.0025-09: 522.2025-09: 524.4025-09: 512.6025-09: 520.4025-10: 527.8025-10: 550.2025-10: 547.2025-10: 535.4025-10: 572.4025-10: 588.4025-11: 588.4025-11: 617.8025-11: 598.2025-11: 579.2025-11: 632.4025-12: 622.0025-12: 619.0025-12: 630.2025-12: 644.8025-12: 646.0026-01: 665.6026-01: 642.6026-01: 639.0026-01: 649.6026-01: 667.6026-02: 684.0026-02: 659.4026-02: 595.0026-02: 630.0026-02: 604.4026-03: 601.0026-03: 575.6026-03: 573.0026-03: 580.0026-03: 533.8026-03: 545.4026-04: 569.0026-04: 612.6026-04: 626.0026-04: 584.6026-04: 569.0026-05: 576.0026-05: 562.8026-05: 566.0026-05: 584.2026-05: 599.4026-06: 601.4026-06: 586.2026-06: 628.6026-06: 663.0026-06: 656.4026-07: 678.6026-07: 651.4026-07: 649.8026-07: 665.4026-07: 676.0026-07: 683.8026-08: 713.8026-08: 707.4026-08: 709.0026-08: 683.8026-08: 678.4026-09: 697.4026-09: 688.00688.0025-0925-1025-1226-0226-0426-0626-09
NatWest Group is the listed company; this entity has no equity of its own, and the group price does not enter its score.
30-day realised volatility · NatWest Group17.1%
Drawdown from 52-week high · NatWest Group-4.3%
Market signal Stable (bonds)
Last price · NatWest Group2026-09-14
Bond yields vs peers, 31-day+2 bp (4 bonds, 2026-09-14)
CDS levels, bond yields and agency ratings feed the private market overlay and are never shown as levels; only the direction and the change against peers are public.
Every event held for this name, newest first: rating actions, Pillar 3 documents and filtered headlines. Severity is rules-based — read the source.
2026-08-24
DBRS new: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2026-08-11
Pillar 3 report for the period to 2026-06-30 published: nwm-plc-pillar-3-hy-2026.pdf
firm website
info
2026-08-03
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-07-31
NatWest Markets, NatWest Group subsidiary, posts H1 profit of £77 million - Bitget
Bitget
info
2026-07-22
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-07-13
DBRS new: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2026-07-02
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-06-30
Pillar 3 report for the period to 2026-06-30 published: nwm-plc-pillar-3-q1-2026.pdf
firm website
info
2026-06-23
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-06-19
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-05-13
Fitch lifts NatWest Group (NYSE: NWG) core subsidiary ratings to AA with Stable Outlook - stocktitan.net
stocktitan.net
good
2026-05-13
NatWest Group plc notes rating actions by Fitch - ActusNews.com
ActusNews.com
good
2026-05-13
NatWest subsidiaries upgraded by Fitch - Proactive Investors
Proactive Investors
good
2026-05-12
Fitch upgrade: Derivative Counterparty Rating AA(dcr)
ESMA European Rating Platform
good
2026-05-12
Fitch maintained under stable outlook: Long Term Issuer Default Rating
ESMA European Rating Platform
info
2026-05-12
Fitch upgrade: Long Term Issuer Default Rating AA
ESMA European Rating Platform
good
2026-05-12
Fitch affirmation: Short Term Issuer Default Rating F1+
ESMA European Rating Platform
info
2026-04-29
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-04-22
Moody's affirmation: Deposit Rating P-1
ESMA European Rating Platform
info
2026-04-22
Moody's affirmation: Counterparty Risk Rating A1
ESMA European Rating Platform
info
2026-04-22
Moody's affirmation: Counterparty Risk Rating P-1
ESMA European Rating Platform
info
2026-04-22
Moody's affirmation: Deposit Rating A1
ESMA European Rating Platform
info
2026-04-22
Moody's maintained under stable outlook: Deposit Rating
ESMA European Rating Platform
info
2026-04-06
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-03-23
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-03-10
DBRS new: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2026-03-04
DBRS new: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2026-03-04
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2026-03-03
DBRS new: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2026-02-13
S&P affirmation: Issuer Credit Rating A
ESMA European Rating Platform
info
2026-02-13
S&P affirmation: Issuer Credit Rating A-1
ESMA European Rating Platform
info
2026-02-13
S&P affirmation: Certificate Of Deposit A
ESMA European Rating Platform
info
2026-02-13
S&P affirmation: Resolution Counterparty Rating A+
ESMA European Rating Platform
info
2026-02-13
S&P affirmation: Resolution Counterparty Rating A-1
ESMA European Rating Platform
info
2026-02-13
S&P maintained under stable outlook: Issuer Credit Rating
ESMA European Rating Platform
info
2026-02-13
Pillar 3 report for the period to 2025-12-31 published: nwm-pillar-3-report.pdf
firm website
info
2026-02-02
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2025-12-08
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2025-11-13
Fitch affirmation: Derivative Counterparty Rating AA-(dcr)
ESMA European Rating Platform
info
2025-11-13
Fitch maintained under stable outlook: Long Term Issuer Default Rating
ESMA European Rating Platform
info
2025-11-13
Fitch affirmation: Long Term Issuer Default Rating AA-
ESMA European Rating Platform
info
2025-11-13
Fitch affirmation: Short Term Issuer Default Rating F1+
ESMA European Rating Platform
info
2025-11-06
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2025-10-28
DBRS new: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2025-10-15
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2025-09-17
DBRS affirmation: Issuer Debt Rating R-1(M)
ESMA European Rating Platform
info
2025-09-17
DBRS affirmation: Issuer Debt Rating AA
ESMA European Rating Platform
info
2025-09-17
DBRS affirmation: Issuer Debt Rating R-1 (H)
ESMA European Rating Platform
info
2025-09-17
DBRS affirmation: Issuer Rating A(H)
ESMA European Rating Platform
info
2025-09-17
DBRS affirmation: Issuer Debt Rating A(H)
ESMA European Rating Platform
info
2025-09-17
DBRS affirmation: Issuer Rating R-1(M)
ESMA European Rating Platform
info
2025-09-10
S&P affirmation: Issuer Credit Rating A
ESMA European Rating Platform
info
2025-09-10
S&P affirmation: Issuer Credit Rating A-1
ESMA European Rating Platform
info
2025-09-10
S&P affirmation: Certificate Of Deposit A
ESMA European Rating Platform
info
2025-09-10
S&P affirmation: Resolution Counterparty Rating A+
ESMA European Rating Platform
info
2025-09-10
S&P affirmation: Resolution Counterparty Rating A-1
ESMA European Rating Platform
info
2025-09-10
S&P maintained under stable outlook: Issuer Credit Rating
ESMA European Rating Platform
info
2025-09-08
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2025-08-25
DBRS withdrawal: Issuer Debt Rating
ESMA European Rating Platform
info
2025-08-11
Pillar 3 report for the period to 2025-06-30 published: nwm-pillar3-h1-report.pdf
firm website
info

Documents and feeds

Firm's Pillar 3 disclosures · read from the PDF, prior-period column
13 documents · 8 metrics · 2021-12-31 to 2026-06-30
Latest source
ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing
5 documents · 6 metrics · 2020-12-31 to 2025-12-31
Latest source

Latest value of every metric held

MetricValueReference dateSourceConfidence
CET1 capital ratio18.302026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Total deposits (currency millions)4,840.002024-12-31ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing0.85
Cost-to-income or efficiency ratio89.102025-12-31ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing0.75
Liquidity coverage ratio204.002026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Leverage ratio4.902026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Net interest margin0.282025-12-31ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing0.75
Net stable funding ratio122.002026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Overall capital requirement17.002026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Return on assets0.162025-12-31ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing0.85
Return on equity3.962025-12-31ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing0.85
Risk-weighted assets (currency millions)22,111.002026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Tier 1 capital ratio22.802026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98
Total assets (currency millions)168,371.002025-12-31ESEF annual accounts (filings.xbrl.org) · tagged XBRL filing0.85
Total capital ratio25.802026-06-30Firm's Pillar 3 disclosures · read from the PDF0.98