NatWest has issued a significant announcement for all 20 million customers, including those in Birmingham, following its Annual General Meeting (AGM).
Chair and CEO Address Customers
Chair Rick Haythornthwaite and Group Chief Executive Officer Paul Thwaite addressed the meeting, providing an update on the bank's performance and future direction.
Haythornthwaite commented on the bank's achievements, stating: "Before turning to our performance, it is worth recognising the significance of the past year for NatWest Group, following our return to full private ownership in May 2025, when the UK Government sold its final shares in the bank."
He described this as a "milestone" and a testament to the progress made in recent years, adding: "It is a testament to the progress we have made in recent years, as well as the longer-term transformation that has seen our bank become simpler, stronger and more customer focused."
Expanding on the milestone, Haythornthwaite said: "It was a symbolic moment because it turns the page on an important chapter in our history, but it also reflects how far the organisation has come. And it gives us the opportunity to look forward with confidence and conviction while never forgetting the lessons of the past."
He emphasised the positive momentum at the start of 2026: "We have started 2026 with positive momentum on which we can build. We are not standing still. A new chapter is well underway, one defined not by recovery, but by an ambition to succeed for the long term, helping turn our customers' possibilities into progress across the UK."
Economic Outlook and Customer Focus
Haythornthwaite acknowledged ongoing economic challenges: "Over recent years, uncertainty and volatility have been a persistent feature of our operating environment. Growth is present, but it is uneven. It varies by sector, by region and by levels of financial resilience, and it demands discipline and selectivity."
He noted that customer behaviours have remained resilient: "What has been striking over the past year is that behaviours have often proved more resilient than sentiment. Across households and businesses, people continue to plan, invest and adapt, even in the face of uncertainty, but with greater discipline and a renewed focus on returns and value for money."
Addressing near-term challenges, he said: "We should be clear: there are near-term challenges. Recent global events mean pressures have elevated for many households and businesses. From a Board perspective, maintaining a longer-term view is essential, and we believe deeply in the long-term strengths of the UK."
He concluded: "One of the most important and rewarding parts of my role is staying close to those we serve and to those who shape our operating environment."
