NatWest Group Cash Flow Statement

Financials in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	7,708	6,276	6,066	4,870	4,311
Depreciation & Amortization	-	1,058	934	833	923
Provision for Credit Losses	-	359	572	266	-1,335
Other Adjustments	-1,608	10,076	7,085	-1,167	3,179
Changes in Trading Assets	-	-558	16,494	18,181	67,604
Changes in Trading Liabilities	-	-4,151	-16,191	-18,634	-67,878
Changes in Other Operating Activities	972	-17,092	-77,340	-90,368	101,420
Operating Cash Flow	7,072	1,772	-17,438	-43,597	53,684
Operating Cash Flow Growth	299.10%	-	-	-	78.09%
Net Change in Securities and Investments	-15,279	-12,343	-19,711	13,465	6,709
Capital Expenditures	-665	-464	-811	-639	-901
Purchases of Intangible Assets	-368	-1,919	4,601	5,420	-3,489
Sale of Property, Plant & Equipment	60	198	128	154	165
Other Investing Activities	2,487	1,829	1,099	659	581
Investing Cash Flow	-13,765	-12,699	-14,694	19,059	3,065
Net Change in Deposits	-	-	-	-5,393	-716
Long-Term Debt Issued	5,692	6,437	4,584	-	-
Long-Term Debt Repaid	-4,177	-3,853	-5,486	-	-
Net Long-Term Debt Issued (Repaid)	1,515	2,584	-902	-	-
Repurchase of Common Stock	-579	-2,716	-2,416	-2,054	-1,806
Net Common Stock Issued (Repurchased)	-579	-2,716	-2,416	-2,054	-1,806
Issuance of Preferred Stock	1,248	1,390	-	-	937
Repurchase of Preferred Stock	-1,979	-	-	-	-
Net Preferred Stock Issued (Repurchased)	-731	1,390	-	-	937
Common Dividends Paid	-2,376	-1,800	-1,703	-3,205	-1,016
Other Financing Activities	-1,323	-1,344	-1,283	-	-
Financing Cash Flow	-3,494	-1,886	-6,304	-10,652	-2,601
Effect of Exchange Rate Changes on Cash and Cash Equivalents	775	-1,166	-1,189	2,933	-2,641
Net Cash Flow	-9,412	-13,979	-39,625	-32,257	51,507
Free Cash Flow	6,407	1,308	-18,249	-44,236	52,783
Free Cash Flow Growth	389.83%	-	-	-	75.10%
FCF Margin	40.12%	9.12%	-128.70%	-343.18%	448.68%
Free Cash Flow Per Share	1.58	0.31	-3.96	-8.91	9.74
Levered Free Cash Flow	7,301	-14,104	-73,422	-87,287	104,118
Unlevered Free Cash Flow	307	-21,207	-76,914	-90,627	101,168

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.