Natwest Holdings Limited
Registered name: NATWEST HOLDINGS LIMITED
Part of Natwest Group PLC groupNatwest Holdings Limited made £13.5bn revenue and £4.5bn profit in the year to 31 Dec 2024.
Natwest Holdings Limited’s revenue grew 2% to £13.5bn in the year to 31 Dec 2024, with £4.5bn profit and 56,900 employees. The company is classified under “activities of head offices” and is based in London; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 10 yrs · since 2016
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £13.3bn | £13.5bn |
| Operating profit | £5.4bn | £5.9bn |
| Profit before tax | £5.4bn | £5.9bn |
| Profit after tax | £4bn | £4.5bn |
| Profit (best available) | £4bn | £4.5bn |
| Employees (average) | 58,100 | 56,900 |
| Ratios | ||
| Profit margin | 30.4% | 32.9% |
| Revenue per employee | £228k | £238k |
| Profit per employee | £69.3k | £78.2k |
| Growth (year on year) | ||
| Revenue growth | — | ▲2% |
| Profit growth | — | ▲10.5% |
| Headcount growth | — | ▼2.1% |
| Balance sheet — indirect signals, not revenue | ||
| Net assets | — | — |
| Source | Accounts · bulk data May 2025 | Accounts · bulk data May 2025 |
How the business works
- Profit margin
- 32.9%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £238k
- Revenue ÷ average employees.
- Profit per employee
- £78.2k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▼2%
- Now 56,900
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Natwest Group PLCultimate parent75–100%
- Natwest Holdings Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (3)
- National Westminster Bank Public Limited CompanyRev. £13.6bn · Profit £4.2bn
- ITB1 LimitedFigures not disclosed
- The Royal Bank of Scotland Public Limited CompanyFigures not disclosed
Sister companies (2)
- Natwest Markets PLCRev. £1.5bn · Profit £275m
- RBS Aa Holdings (UK) LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2024 (profit £4.5bn), from the Companies House accounts bulk data published May 2025. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.