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Lloyds Banking Group vs NatWest Group: LYG and NWG compared
Lloyds Banking Group is the larger company: $5.5B of revenue in its latest quarter (Q3 2026) against $4.6B for NatWest Group (Q3 2026). Lloyds Banking Group is growing faster (+12% against +7% a year earlier). NatWest Group is more profitable, with an operating margin of 48.0% against 42.7%.
Where the money goes: LYG and NWG
Lloyds Banking Group (LYG) · Q3 2026
Lloyds Banking Group, Q3 2026: revenue $5.5B (+12% year over year), operating margin 42.7%, net earnings $1.6B. The chart follows the revenue to costs, profit and cash.
NatWest Group (NWG) · Q3 2026
NatWest Group, Q3 2026: revenue $4.6B (+7% year over year), operating margin 48.0%, net earnings $1.6B. The chart follows the revenue to costs, profit and cash.
| Lloyds Banking Group (LYG) | NatWest Group (NWG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.5B | $4.6B |
| Revenue growth, Y/Y | +12% | +7% |
| Operating margin | 42.7% | 48.0% |
| Net earnings | $1.6B | $1.6B |
| Net margin | 29.2% | 34.8% |
Questions
Which is bigger, Lloyds Banking Group or NatWest Group?
Lloyds Banking Group is the larger company: $5.5B of revenue in its latest quarter (Q3 2026) against $4.6B for NatWest Group (Q3 2026).
Is Lloyds Banking Group or NatWest Group growing faster?
Lloyds Banking Group is growing faster (+12% against +7% a year earlier).
Which is more profitable, Lloyds Banking Group or NatWest Group?
NatWest Group is more profitable, with an operating margin of 48.0% against 42.7%.
More: Lloyds Banking Group earnings · how Lloyds Banking Group makes money · NatWest Group earnings · how NatWest Group makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 29, 2026; 6-K filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.