XML 302 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated statement of changes in equity (Parenthetical) - GBP (£)
£ in Millions, shares in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2024
May 31, 2023
Mar. 31, 2022
Feb. 28, 2022
Mar. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Aug. 31, 2021
Own shares acquired/Shares repurchased [1],[2]           £ 2,057.0 £ 2,054.0 £ 1,423.0  
Consideration for shares repurchased           2,416.0 2,054.0 1,806.0  
Net (loss) gain as a result of significant movements in underlying actuarial assumptions           (776.0)      
Loss recognised on reclassification between equity and liabilities       £ 254.0          
Notional amount of paid in equity notes reclassified to liabilities                 £ 2,650.0
Issue of equity [3]               1,024.0  
Equity           37,188.0 36,496.0 41,803.0 [4]  
Equity attributable to preference shareholders               494.0  
Main Pension Scheme                  
Net (loss) gain as a result of significant movements in underlying actuarial assumptions           (585.0)      
Paid-in equity                  
Issue of equity [3]               937.0  
Equity           3,890.0 3,890.0 3,890.0 [4]  
Retained earnings                  
Own shares acquired/Shares repurchased [1],[2]           2,057.0 2,054.0 1,423.0  
Equity           10,645.0 10,019.0 12,966.0 [4]  
Ordinary share capital                  
Issue of equity               37.0  
Share premium                  
Issue of equity               50.0  
Other statutory                  
Own shares acquired/Shares repurchased [1],[2],[5]           (856.0) (929.0) (698.0)  
Capital redemption reserve           2,507.0 1,651.0 722.0  
Value of own shares held           503.0 258.0 371.0  
Equity [5]           £ 2,004.0 1,393.0 351.0 [4]  
UK Government Investments Ltd (UKGI)                  
Purchase price per share   £ 2.684 £ 2.205   £ 1.905        
Consideration for shares repurchased   £ 1,300.0 £ 1,200.0   £ 1,100.0        
Number of treasury stock, shares cancelled           336.2      
Value of treasury shares cancelled           £ 906.9      
Number of shares repurchased   469.2 549.9   591.0        
Own shares held           133.0      
Value of own shares held           £ 358.8      
On Market Share Buyback Programme                  
Consideration for shares repurchased           £ 1,151.7 £ 829.3 £ 676.2  
Number of shares repurchased and cancelled           460.3 379.3 310.8  
On Market Share Buyback Programme | Settlement and cancellation of own shares                  
Consideration for shares repurchased £ 4.9                
Number of shares repurchased and cancelled 2.3                
[1] In May 2023, there was an agreement to buy 469.2 million (March 2022 – 549.9 million, March 2021 - 591.0 million) ordinary shares of the Company from UK Government Investments Ltd (UKGI) at 268.4 pence per share (March 2022 - 220.5 pence per share, March 2021 - 190.5 pence per share) for the total consideration of £1.3 billion (2022 - £1.2 billion, 2021 - £1.1 billion). NatWest Group cancelled 336.2 million of the purchased ordinary shares, amounting to £906.9 million excluding fees and held the remaining 133.0 million shares as Own Shares Held, amounting to £358.8 million excluding fees. The nominal value of the share cancellation has been transferred to the capital redemption reserve.
[2] NatWest Group plc repurchased and cancelled 460.3 million (2022 – 379.3 million, 2021 - 310.8 million) shares, of which 2.3 million were settled in January 2024. The total consideration of these shares excluding fees was £1,151.7 million (2022 - £829.3 million, 2021 £676.2 million), of which £4.9 million were settled in January 2024, as part of the On Market Share Buyback Programmes. The nominal value of the share cancellations has been transferred to the capital redemption reserve.
[3] There was an issue of shares in 2021. This is split between Ordinary share capital of £37 million and Share premium of £50 million.
[4] In 2021, the Total equity balance of £41,803 million includes £494 million attributable to Preference shareholders.
[5] Other statutory reserves consist of Capital redemption reserves of £2,507 million (2022 - £1,651 million, 2021 - £722 million) and Own shares held reserves of £503 million (2022 - £258 million, 2021 - £371 million)