NatWest Group plc has acquired Evelyn Partners, one of Britain's largest wealth managers, for £2.7 billion, aiming to enhance its wealth management capabilities and drive growth in a competitive UK banking landscape.

Information on the target

NatWest Group plc, a prominent British bank, has reported a significant 24% increase in its annual profit for the year 2025, achieving a pre-tax profit of £7.7 billion, up from £6.2 billion the previous year. This performance surpassed analyst expectations, which had forecasted an average profit of £7.5 billion. The bank's strategic focus has shifted towards enhancing its wealth management capabilities, a sector that is both costly and potentially lucrative, particularly in the UK market.

In conjunction with its financial results, NatWest has set more ambitious performance targets, projecting a return on tangible equity of over 18% by 2028, an increase from the previous guidance of over 15% by 2027. This shift reflects the bank's commitment to becoming a more streamlined and profitable domestic lender, moving away from the expansive global ambitions that characterized its RBS era.

Industry overview in the target’s specific country

The UK banking sector has undergone significant transformation in recent years, particularly in the wealth management space. As traditional income streams from lending have diminished due to central bank rate cuts, banks are increasingly diversifying t