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Financial Instruments - maturity analysis (Tables)

12 Months Ended

Dec. 31, 2023

Financial instruments - classification

Schedule of residual maturity of financial instruments

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	2023					​	2022
​	​	Less than	​	More than	​	​	​	Less than	​	More than	​	​
​	​	12 months	​	12 months	​	Total	​	12 months	​	12 months	​	Total
​		£m		£m		£m		£m		£m		£m
Assets	​	​	​	​	​	​	​	​	​	​	​	​
Cash and balances at central banks		104,262		—		104,262		144,832		—		144,832
Trading assets		36,723		8,828		45,551		35,944		9,633		45,577
Derivatives		29,839		49,065		78,904		38,107		61,438		99,545
Settlement balances		7,231		—		7,231		2,572		—		2,572
Loans to banks - amortised cost	​	6,650	​	264	​	6,914	​	6,872	​	267	​	7,139
Loans to customers - amortised cost	​	87,663	​	293,770	​	381,433	​	84,289	​	282,051	​	366,340
Other financial assets		10,192		40,910		51,102		6,128		24,767		30,895
​	​	​	​	​	​	​	​	​	​	​	​	​
Liabilities		​	​	​	​	​	​	​	​	​	​	​
Bank deposits		8,954	​	13,236	​	22,190	​	7,799	​	12,642	​	20,441
Customer deposits		424,893		6,484		431,377		448,821		1,497		450,318
Settlement balances		6,645		—		6,645		2,012		—		2,012
Trading liabilities		45,349		8,287		53,636		42,760		10,048		52,808
Derivatives	​	30,721	​	41,674	​	72,395	​	39,331	​	54,716	​	94,047
Other financial liabilities		20,310		34,779		55,089		13,796		35,311		49,107
Subordinated liabilities		1,047		4,667		5,714		973		5,287		6,260
Notes in circulation	​	3,237	​	—	​	3,237	​	3,218	​	—	​	3,218
Lease liabilities		102		568		670		137		981		1,118

Schedule of undiscounted cash flows payable by contractual maturity

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​		0-3 months		3-12 months		1-3 years		3-5 years		5-10 years		10-20 years
2023	​	£m	​	£m	​	£m	​	£m	​	£m	​	£m
Assets by contractual maturity up to 20 years		​		​		​		​		​		​
Cash and balances at central banks		104,262		—		—		—		—		—
Derivatives held for hedging	​	31	​	29	​	128	​	104	​	49	​	49
Settlement balances		7,231	​	—	​	—	​	—	​	—	​	—
Loans to banks - amortised cost		5,234		1,437		23		302		—		—
Loans to customers - amortised cost		52,175		46,894		81,445		61,465		96,577		114,806
Other financial assets (1)	​	4,897	​	6,756	​	12,304	​	11,183	​	10,019	​	8,063
Finance lease		61		242		735		401		656		359
​		173,891	​	55,358		94,635		73,455		107,301		123,277
Liabilities by contractual maturity up to 20 years		​		​	​	​	​	​	​	​	​	​
Bank deposits		8,334		1,279		6,069		8,307		—		—
Customer deposits		393,363		31,900		6,464		11		14		19
Settlement balances		6,645		—		—		—		—		—
Derivatives held for hedging		71		175		366		192		92		8
Other financial liabilities		9,094		12,319		18,843		13,818		4,769		346
Subordinated liabilities	​	72	​	1,167	​	2,301	​	1,512	​	1,406	​	342
Other liabilities - Notes in circulation	​	3,237	​	—	​	—	​	—	​	—	​	—
Lease liabilities		30	​	79		172		111		175		132
​		420,846		46,919		34,215		23,951		6,456		847
Guarantees and commitments - notional amount		​	​	​	​	​	​	​	​	​	​	​
Guarantees (2)		2,820		—	​	—	​	—	​	—	​	—
Commitments (3)		112,807		—		—		—		—		—
​		115,627		—		—		—		—		—

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​		0-3 months		3-12 months		1-3 years		3-5 years		5-10 years		10-20 years
2022		£m		£m		£m		£m		£m		£m
Assets by contractual maturity up to 20 years		​		​		​		​		​		​
Cash and balances at central banks		144,832		—		—		—		—		—
Derivatives held for hedging		130	​	345	​	28	​	41	​	(44)	​	43
Settlement balances	​	2,572	​	—	​	—	​	—	​	—	​	—
Loans to banks - amortised cost		5,254		1,621		17		288		—		—
Loans to customers - amortised cost		50,923		43,417		76,278		55,128		85,038		100,085
Other financial assets (1)		2,771	​	4,507	​	8,391	​	7,835	​	5,706	​	2,524
Finance lease	​	96		267		857		482		549		296
​	​	206,578	​	50,157		85,571		63,774		91,249		102,948
Liabilities by contractual maturity up to 20 years		​		​	​	​	​	​	​	​	​	​
Bank deposits		6,690		1,445		5,662		8,503		89		—
Customer deposits		437,830		11,389		1,252		2		14		20
Settlement balances		2,012		—		—		—		—		—
Derivatives held for hedging		280		(371)		586		306		116		85
Other financial liabilities		6,720		6,640		18,833		13,906		7,361		294
Subordinated liabilities		96	​	1,073	​	2,690	​	1,897	​	1,541	​	328
Other liabilities- Notes in circulation	​	3,218	​	—	​	—	​	—	​	—	​	—
Lease liabilities	​	41	​	113		260		203		318		254
​		456,887		20,289		29,283		24,817		9,439		981
Guarantees and commitments - notional amount		​	​	​	​	​	​	​	​	​	​	​
Guarantees (2)		3,150		—	​	—	​	—	​	—	​	—
Commitments (3)		118,779		—		—		—		—		—
​		121,929		—		—		—		—		—

​

(1) Other financial assets exclude equity shares.

(2) NatWest Group is only called upon to satisfy a guarantee when the guaranteed party fails to meet its obligations. NatWest Group expects most guarantees it provides to expire unused.

(3) NatWest Group has given commitments to provide funds to customers under undrawn formal facilities, credit lines and other commitments to lend subject to certain conditions being met by the counterparty. NatWest Group does not expect all facilities to be drawn, and some may lapse before drawdown.

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- Definition

The disclosure of a maturity analysis for undiscounted cash flows of financial instruments (including issued financial guarantee contracts and commitments) that shows the remaining contractual maturities.

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- Definition

The disclosure of a residual maturity analysis for financial instruments, based on contractual date of maturity.

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