Side by sideLloyds (LLOY.L) and NatWest (NWG.L)Memos of October 12, 2026 and October 13, 2026
Lloyds vs NatWest stock: the numbers side by side (October 2026)
How do Lloyds and NatWest compare?
| Lloyds LLOY.L | NatWest NWG.L | |
|---|---|---|
| Revenue growth | 7.9%2025 | 13.2%2025 |
| Net interest margin | 3.1%2025 | 2.3%2025 |
| CET1 capital ratio | 14.0%2025 | 14.0%2025 |
| Dividend yield | 3.6%Today (Oct 12, 2026) | 5.0%Today (Oct 13, 2026) |
| P/E, last 12 months | 12.7xToday (Oct 12, 2026) | 8.7xToday (Oct 13, 2026) |
| P/E, next 12 months | 8.3xToday (Oct 12, 2026) | 7.8xToday (Oct 13, 2026) |
| Weighted price forecast, about 1 year | 92512.96 (+90960 %)October 2027 | 653.55 (+6 %)October 2027 |
| Weighted price forecast, about 3 years | 113254.26 (+111382 %)October 2029 | 722.22 (+29 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | NatWest | The higher figure |
| Net interest margin | Lloyds | The higher figure |
| CET1 capital ratio | — | The higher figure |
| Dividend yield | NatWest | The higher figure |
| P/E, last 12 months | NatWest | The lower figure |
| P/E, next 12 months | NatWest | The lower figure |
| Weighted price forecast, about 1 year | Lloyds | The higher weighted return |
| Weighted price forecast, about 3 years | Lloyds | The higher weighted return |
What does each company do?
Lloyds is a mainly UK bank for households and businesses.
Lloyds (LLOY.L), from our memo of October 12, 2026 · Lloyds stock forecast
NatWest takes deposits, makes loans, processes payments and sells banking and wealth services to households, businesses and institutions.
NatWest (NWG.L), from our memo of October 13, 2026 · NatWest stock forecast