EX-8.1 7 nwg-20241231xex8d1.htm EXHIBIT 8.1

Exhibit 8.1

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The principal subsidiaries of NatWest Group plc are:

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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nature of business |  | Country of incorporation and principal area of operation |  | Group interest |
National Westminster Bank Plc (1,3) | ​ | Banking | ​ | Great Britain | ​ | 100% | ​
The Royal Bank of Scotland plc (3) | ​ | Banking | ​ | Great Britain | ​ | 100% | ​
Coutts & Company (2,3) | ​ | Banking | ​ | Great Britain | ​ | 100% | ​
NatWest Markets Plc | ​ | Banking | ​ | Great Britain | ​ | 100% | ​
NatWest Markets N.V. (4) | ​ | Banking | ​ | Netherlands | ​ | 100% | ​
The Royal Bank of Scotland International Limited (5) | ​ | Financial Institution | ​ | Jersey | ​ | 100% | ​

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(1) | The parent company does not hold any of the preference shares in issue.

(2) | Coutts & Company is incorporated with unlimited liability.

(3) | Owned via NatWest Holdings Limited.

(4) | Owned via NatWest Markets Plc.

(5) | Owned via The Royal Bank of Scotland International (Holdings) Limited.

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The above information is provided only in relation to subsidiary companies which would be deemed to be a “significant subsidiary” in accordance with rule 1-02(w) of Regulation S-X as at 31 December 2024.