Total assets under management rose from a year ago.

Coutts, the private banking arm of UK-listed NatWest Group, today reported £77 million ($102.5 million) in operating profit for the first quarter of 2025, more than double the £33 million result a year ago. The result was driven by a rise in total income to £265 million from £208 million, more than offsetting a slight rise in expenses.

The bank logged flows of assets under management/administration (AuMA) of £800 million in the quarter, down from £1 billion in the preceding quarter to end-December 2024, but up from £200 million a year earlier. 

Total assets under management stood at £36.7 billion at the end of March, up from £33.6 billion at end-March 2024. AuMA stood at a total of £48.5 billion, up from £43.1 billion, NatWest said in a statement.

Customer deposits fell by £1.2 billion, or 2.8 per cent, in Q1 2025 largely reflecting seasonal tax payments and outflows of transitory balances.

“This quarter’s results reflect the continued progress we’re making in supporting our clients with their private banking and wealth management needs,” Emma Crystal (pictured), CEO, Wealth Businesses, NatWest Group, said. 

For NatWest as a whole, profit attributable to ordinary shareholders stood at £1.252 billion in Q1 2025, up slightly on a year earlier. Return on tangible equity was 18.5 per cent; the cost/income ratio, excluding litigation and conduct, was 48.6 per cent, narrowing on a year earlier. The bank's Common Equity Tier 1 ratio was 13.8 per cent.