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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_InterestExpense" xml:lang="en">Interest expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_FeeAndCommissionExpense" xml:lang="en">Other fee and commission expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ProfitBeforeImpairmentLossesReleases" xml:lang="en">Profit before impairment (losses) releases</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_nwg_ProfitBeforeImpairmentLossesReleases" xml:lang="en">Profit before impairment (losses)releases</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ProfitBeforeImpairmentLossesReleases" xml:lang="en">Profit before impairment (losses)/releases.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_ifrs-full_OperatingExpense" xml:lang="en">Operating expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xml:lang="en">Tax expense (income)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TotalNetInterestIncomeAndNetNonInterestIncome" xml:lang="en">Total net interest income and net non interest income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_nwg_TotalNetInterestIncomeAndNetNonInterestIncome" xml:lang="en">Total net interest income and net non-interest income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TotalNetInterestIncomeAndNetNonInterestIncome" xml:lang="en">Total net interest income and net non-interest income.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_ifrs-full_ProfitLoss" xml:lang="en">Profit (loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_InterestRevenueExpense" xml:lang="en">Interest income (expense)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_NonInterestIncome" xml:lang="en">Non Interest Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_nwg_NonInterestIncome" xml:lang="en">Non Interest Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_NonInterestIncome" xml:lang="en">Non interest income.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ProfitLossAttributableToPaidInEquityHoldersOfParentEntity" xml:lang="en">Profit (loss), attributable to paid in equity holders of parent entity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ProfitLossAttributableToPaidInEquityHoldersOfParentEntity" xml:lang="en">Profit (loss), attributable to paid in equity holders of parent entity.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ProfitLossAttributableToOrdinaryShareholders" xml:lang="en">Profit Loss Attributable To Ordinary Shareholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ProfitLossAttributableToOrdinaryShareholders" xml:lang="en">Profit loss attributable to ordinary shareholders.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ProfitLossAttributableToPreferenceShareholders" xml:lang="en">Profit Loss Attributable To Preference Shareholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ProfitLossAttributableToPreferenceShareholders" xml:lang="en">Profit loss attributable to preference shareholders.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_PremisesAndEquipment" xml:lang="en">Premises and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_PremisesAndEquipment" xml:lang="en">Premises and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_PremisesAndEquipment" xml:lang="en">Premises and equipment.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ComprehensiveIncomeAttributableToPaidInEquityHoldersOfParentEntity" xml:lang="en">Comprehensive income attributable to paid in equity holders of parent entity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ComprehensiveIncomeAttributableToPaidInEquityHoldersOfParentEntity" xml:lang="en">Comprehensive income attributable to paid-in equity holders of parent entity.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ComprehensiveIncomeAttributableToPreferenceShareholders" xml:lang="en">Comprehensive Income Attributable To Preference Shareholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ComprehensiveIncomeAttributableToPreferenceShareholders" xml:lang="en">Comprehensive income attributable to preference shareholders.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ComprehensiveIncomeAttributableToOrdinaryEquityHoldersOfParentEntity" xml:lang="en">Comprehensive income attributable to ordinary equity holders of parent entity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ComprehensiveIncomeAttributableToOrdinaryEquityHoldersOfParentEntity" xml:lang="en">Comprehensive income attributable to ordinary equity holders of parent entity.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_FinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxItemsThatQualifyForReclassification" xml:lang="en">Financial assets measured at fair value through other comprehensive income, before tax, items that qualify for reclassification</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_FinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxItemsThatQualifyForReclassification" xml:lang="en">Financial assets measured at fair value through other comprehensive income, before tax, items that qualify for reclassification.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xml:lang="en">Income tax relating to components of other comprehensive income that will be reclassified to profit or loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xml:lang="en">Income tax relating to components of other comprehensive income that will not be reclassified to profit or loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlansOnOtherMovements" xml:lang="en">Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Plans on other Movements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlansOnOtherMovements" xml:lang="en">Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Plans on other Movements.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_FinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxThatDoNotQualifyForReclassification" xml:lang="en">Financial assets measured at fair value through other comprehensive income, before tax, that do not qualify for reclassification</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_FinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxThatDoNotQualifyForReclassification" xml:lang="en">Financial assets measured at fair value through other comprehensive income, before tax, that do not qualify for reclassification.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ReductionInEquityDueToPensionSchemeContribution" xml:lang="en">Reduction In Equity Due To Pension Scheme Contribution</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ReductionInEquityDueToPensionSchemeContribution" xml:lang="en">Reduction in equity due to pension scheme contribution.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_GroupsRepublicOfIrelandPensionSchemesMember" xml:lang="en">Groups Republic Of Ireland Pension Schemes [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_GroupsRepublicOfIrelandPensionSchemesMember" xml:lang="en">Group's Republic of Ireland pension schemes [Member].</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_MainSchemeMember" xml:lang="en">Main Scheme [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_MainSchemeMember" xml:lang="en">Main scheme.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_UkGovernmentInvestmentsLimitedMember" xml:lang="en">UK Government Investments Limited [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_UkGovernmentInvestmentsLimitedMember" xml:lang="en">UK Government Investments Limited.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_ifrs-full_AssetsAbstract" xml:lang="en">Assets [abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OtherFinancialAssetsExcludingSecuritiesSubjectToRepurchaseAgreements" xml:lang="en">Other Financial Assets Excluding Securities Subject To Repurchase Agreements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OtherFinancialAssetsExcludingSecuritiesSubjectToRepurchaseAgreements" xml:lang="en">Other financial assets excluding securities subject to repurchase agreements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_SettlementBalancesAssets" xml:lang="en">Settlement balances assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_SettlementBalancesAssets" xml:lang="en">Settlement balances assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TradingAssets" xml:lang="en">Trading assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TradingAssets" xml:lang="en">Trading assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_SecuritiesSubjectToRepurchaseAgreements" xml:lang="en">Securities subject To Repurchase Agreements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_SecuritiesSubjectToRepurchaseAgreements" xml:lang="en">Securities subject to repurchase agreements.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OtherOwnersInterests" xml:lang="en">Other Owners Interests</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_nwg_OtherOwnersInterests" xml:lang="en">Other owners' interests</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OtherOwnersInterests" xml:lang="en">Other owners' interests.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_SettlementBalancesLiabilities" xml:lang="en">Settlement balances liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_SettlementBalancesLiabilities" xml:lang="en">Settlement balances liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_NotesInCirculation" xml:lang="en">Notes In Circulation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_NotesInCirculation" xml:lang="en">Notes in circulation.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TradingLiabilities" xml:lang="en">Trading liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TradingLiabilities" xml:lang="en">Trading liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_EquityAttributableToOrdinaryShareholders" xml:lang="en">Equity Attributable to Ordinary Shareholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_EquityAttributableToOrdinaryShareholders" xml:lang="en">Equity attributable to ordinary shareholders.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OrdinaryDividendsPaid" xml:lang="en">Ordinary Dividends Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_OrdinaryDividendsPaid" xml:lang="en">Dividends paid, ordinary shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OrdinaryDividendsPaid" xml:lang="en">Ordinary dividends paid.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_UnrealisedAndRealisedGains" xml:lang="en">Unrealised And Realised Gains</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_UnrealisedAndRealisedGains" xml:lang="en">Unrealised and Realised gains.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_RedeemedReclassified" xml:lang="en">Redeemed Reclassified</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_RedeemedReclassified" xml:lang="en">Redeemed/reclassified.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_RealisedGainsLosses" xml:lang="en">Realised (Gains) Losses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_RealisedGainsLosses" xml:lang="en">Realised (gains)/losses.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_EquityWithdrawnAndDisposals" xml:lang="en">Equity withdrawn and disposals</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_EquityWithdrawnAndDisposals" xml:lang="en">Equity withdrawn and disposals.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_LossProfitAttributableToOrdinaryShareholdersAndOtherEquityOwnersDiscontinuedOperations" xml:lang="en">(Loss) Profit Attributable To Ordinary Shareholders And Other Equity Owners Discontinued Operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_LossProfitAttributableToOrdinaryShareholdersAndOtherEquityOwnersDiscontinuedOperations" xml:lang="en">(Loss)/profit attributable to ordinary shareholders and other equity owners discontinued operations.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_Reclassified" xml:lang="en">Reclassified</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_Reclassified" xml:lang="en">Reclassified.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_EquityPreferenceDividendsPaid" xml:lang="en">Equity Preference Dividends Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_EquityPreferenceDividendsPaid" xml:lang="en">Equity Preference Dividends Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_EquityPreferenceDividendsPaid" xml:lang="en">Equity preference dividends paid.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_UnclaimedDividend" xml:lang="en">Unclaimed Dividend</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_UnclaimedDividend" xml:lang="en">Unclaimed dividend.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xml:lang="en">Paid-in equity dividends paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_Redeemed" xml:lang="en">Redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_Redeemed" xml:lang="en">Redeemed.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_LossProfitAttributableToOrdinaryShareholdersAndOtherEquityOwnersContinuingOperations" xml:lang="en">(Loss) Profit Attributable To Ordinary Shareholders And Other Equity Owners Continuing Operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_LossProfitAttributableToOrdinaryShareholdersAndOtherEquityOwnersContinuingOperations" xml:lang="en">(Loss) profit attributable to ordinary shareholders and other equity owners continuing operations.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ImplementationOfIfrs16" xml:lang="en">Implementation Of IFRS 16</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ImplementationOfIfrs16" xml:lang="en">Implementation of IFRS 16.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_RecycledToProfitOrLossOnDisposalOfBusiness" xml:lang="en">Recycled To Profit Or Loss On Disposal Of Business</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_RecycledToProfitOrLossOnDisposalOfBusiness" xml:lang="en">Recycled to profit or loss on disposal of business.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_RedemptionOfPreferenceShares" xml:lang="en">Redemption of preference shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_RedemptionOfPreferenceShares" xml:lang="en">Redemption of preference shares.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_SharesIssuedUnderEmployeeShareSchemes" xml:lang="en">Shares Issued Under Employee Share Schemes</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_SharesIssuedUnderEmployeeShareSchemes" xml:lang="en">Shares issued under employee share schemes.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsAndHedgesOfNetInvestmentsInForeignOperationsIncludedInOtherComprehensiveIncome" xml:lang="en">Income Tax Relating To Exchange Differences On Translation Of Foreign Operations And Hedges Of Net Investments In Foreign Operations Included In Other Comprehensive Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsAndHedgesOfNetInvestmentsInForeignOperationsIncludedInOtherComprehensiveIncome" xml:lang="en">Income Tax Relating To Exchange Differences On Translation Of Foreign Operations And Hedges Of Net Investments In Foreign Operations Included In Other Comprehensive Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfForeignOperationsAndHedgesOfNetInvestmentsInForeignOperationsIncludedInOtherComprehensiveIncome" xml:lang="en">The amount of income tax relating to amounts recognised in other comprehensive income in relation to hedges of net investments in foreign operations. [Refer: Other comprehensive income; Hedges of net investment in foreign operations [member]]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_EquityAttributableToPreferenceShareholders" xml:lang="en">Equity Attributable to Preference Shareholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_EquityAttributableToPreferenceShareholders" xml:lang="en">Equity attributable to preference shareholders.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_EquityAttributableToPaidInEquityholders" xml:lang="en">Equity Attributable to Paid In Equityholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_EquityAttributableToPaidInEquityholders" xml:lang="en">Equity attributable to paid in equityholders.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_DividendsPaidForEquityPreference" xml:lang="en">Dividends Paid For Equity Preference</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_DividendsPaidForEquityPreference" xml:lang="en">Dividends Paid For Equity Preference</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_DividendsPaidForEquityPreference" xml:lang="en">Paid in equity dividends paid.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xml:lang="en">Purchase of treasury shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ReserveOfExchangeDifferencesOnTranslationAndHedgesOfNetInvestmentsInForeignOperationsMember" xml:lang="en">Reserve Of Exchange Differences On Translation And Hedges Of Net Investments In Foreign Operations [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ReserveOfExchangeDifferencesOnTranslationAndHedgesOfNetInvestmentsInForeignOperationsMember" xml:lang="en">Reserve of exchange differences on translation and hedges of net investments in foreign operations.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_CancellationOfShares" xml:lang="en">Cancellation Of Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_CancellationOfShares" xml:lang="en">Cancellation of shares.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OwnSharesHeldByTheCompany" xml:lang="en">Own Shares Held By The Company</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OwnSharesHeldByTheCompany" xml:lang="en">Own shares held by the company.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OwnSharesAcquiredNumberOfShares" xml:lang="en">Own Shares Acquired Number Of Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OwnSharesAcquiredNumberOfShares" xml:lang="en">Own shares acquired, number of shares.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_NumberOfSharesCancelled" xml:lang="en">Number Of Shares Cancelled</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_NumberOfSharesCancelled" xml:lang="en">Number Of Shares cancelled.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TaxCreditOfRedemptionOfPaidInEquity" xml:lang="en">Tax Credit Of Redemption Of Paid In Equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TaxCreditOfRedemptionOfPaidInEquity" xml:lang="en">Tax credit of redemption of paid in equity.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TreasuryStockShares" xml:lang="en">Treasury Stock Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TreasuryStockShares" xml:lang="en">Treasury stock shares.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en">Treasury Stock Acquired Average Cost Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en">Treasury stock acquired average cost per share.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_TaxCreditOfShareBasedPayments" xml:lang="en">Tax Credit Of Share Based Payments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_TaxCreditOfShareBasedPayments" xml:lang="en">Tax credit of share based payments.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_RepurchaseAndCancellationOfTreasuryShares" xml:lang="en">Repurchase And Cancellation Of Treasury Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_RepurchaseAndCancellationOfTreasuryShares" xml:lang="en">Repurchase and cancellation of treasury shares.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_NatWestMarketsPlcMember" xml:lang="en">Nat West Markets Plc [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xml:lang="en">Increase (decrease) in working capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_InterestPayableOnMrelsAndSubordinatedLiabilities" xml:lang="en">Interest Payable On Mrels And Subordinated Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_nwg_InterestPayableOnMrelsAndSubordinatedLiabilities" xml:lang="en">Interest payable on MRELs and subordinated liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_InterestPayableOnMrelsAndSubordinatedLiabilities" xml:lang="en">Interest payable on MRELs and subordinated liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_LossProfitOnSaleOfOtherFinancialAssets" xml:lang="en">Loss Profit On Sale Of Other Financial Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_LossProfitOnSaleOfOtherFinancialAssets" xml:lang="en">Loss Profit On Sale Of Other Financial Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_LossProfitOnSaleOfOtherFinancialAssets" xml:lang="en">Loss /(profit) on sale of other financial assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_LossOnSaleOfMRELsAndSubordinatedLiabilities" xml:lang="en">Loss On Sale Of M R E Ls And Subordinated Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_nwg_LossOnSaleOfMRELsAndSubordinatedLiabilities" xml:lang="en">Loss on sale of MRELs and subordinated liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_LossOnSaleOfMRELsAndSubordinatedLiabilities" xml:lang="en">Loss on sale of MRELs and subordinated liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentsReversalOfImpairmentsOnOtherThanLoansAndAdvancesRecognisedInProfitOrLoss" xml:lang="en">Adjustments for depreciation and amortisation expense and impairments (reversal of impairments) on other than loans and advances recognised in profit or loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentsReversalOfImpairmentsOnOtherThanLoansAndAdvancesRecognisedInProfitOrLoss" xml:lang="en">Adjustments for depreciation and amortisation expense and impairments (reversal of impairments) on other than loans and advances recognised in profit or loss.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ChangeInFairValueTakenToProfitOrLossOfOtherFinancialAssets" xml:lang="en">Change In Fair Value Taken To Profit Or Loss Of Other Financial Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ChangeInFairValueTakenToProfitOrLossOfOtherFinancialAssets" xml:lang="en">Change in fair value taken to profit or loss of other financial assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_ChangeInFairValueTakenToProfitOrLossOnOtherFinancialLiabilitiesAndSubordinatedLiabilities" xml:lang="en">Change In Fair Value Taken To Profit Or Loss On Other Financial Liabilities And Subordinated Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_ChangeInFairValueTakenToProfitOrLossOnOtherFinancialLiabilitiesAndSubordinatedLiabilities" xml:lang="en">Change in fair value taken to profit or loss on other financial liabilities and subordinated liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xml:lang="en">Cash flows from (used in) operations before changes in working capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_AmortisationOfDiscountsAndPremiumsOfOtherFinancialAssets" xml:lang="en">Amortisation Of Discounts And Premiums Of Other Financial Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_AmortisationOfDiscountsAndPremiumsOfOtherFinancialAssets" xml:lang="en">Amortisation of discounts and premiums of other financial assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_LossOnSaleOfOtherAssetsAndNetAssetsLiabilties" xml:lang="en">Loss On Sale Of Other Assets And Net Assets Liabilties</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_LossOnSaleOfOtherAssetsAndNetAssetsLiabilties" xml:lang="en">Loss On Sale Of Other Assets And Net Assets Liabiltiies</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_LossOnSaleOfOtherAssetsAndNetAssetsLiabilties" xml:lang="en">Loss On Sale Of Other Assets And Net Assets Liabilties.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncomeReceivableOnOtherFinancialAssets" xml:lang="en">Income Receivable On Other Financial Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_IncomeReceivableOnOtherFinancialAssets" xml:lang="en">Income Receivable On Other Financial Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncomeReceivableOnOtherFinancialAssets" xml:lang="en">Income receivable on other financial assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xml:lang="en">Adjustments for gain (loss) on disposal of investments in subsidiaries, joint ventures and associates</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncreaseDecreaseInOtherFinancialLiabilities" xml:lang="en">Increase (decrease) in other financial liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncreaseDecreaseInOtherFinancialLiabilities" xml:lang="en">Increase/(decrease) in other financial liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncreaseInSettlementBalanceAssets" xml:lang="en">Increase In Settlement Balance Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncreaseInSettlementBalanceAssets" xml:lang="en">Increase in settlement balance assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncreaseInSettlementBalanceLiabilities" xml:lang="en">Increase In Settlement Balance Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_IncreaseInSettlementBalanceLiabilities" xml:lang="en">Increase In Settlement Balance Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncreaseInSettlementBalanceLiabilities" xml:lang="en">Increase in settlement balance liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="lab_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" xml:lang="en">Income taxes paid, classified as operating activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_DecreaseInOtherFinancialAssets" xml:lang="en">Decrease in other financial assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_DecreaseInOtherFinancialAssets" xml:lang="en">Decrease in other financial assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncreaseDecreaseInNotesInCirculation" xml:lang="en">Increase (Decrease) In Notes In Circulation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncreaseDecreaseInNotesInCirculation" xml:lang="en">Increase/(decrease) in notes in circulation.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OperatingProfitBeforeTaxFromDiscontinuedOperations" xml:lang="en">Operating Profit Before Tax From Discontinued Operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_OperatingProfitBeforeTaxFromDiscontinuedOperations" xml:lang="en">Operating Profit Before Tax From Discontinued Operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OperatingProfitBeforeTaxFromDiscontinuedOperations" xml:lang="en">Operating profit before tax from discontinued operations.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_DecreaseIncreaseInTradingAssets" xml:lang="en">Decrease Increase In Trading Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_DecreaseIncreaseInTradingAssets" xml:lang="en">Decrease increase in trading assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncreaseDecreaseInTradingLiabilities" xml:lang="en">Increase Decrease In Trading Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_IncreaseDecreaseInTradingLiabilities" xml:lang="en">Increase Decrease In Trading Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncreaseDecreaseInTradingLiabilities" xml:lang="en">Increase decrease in trading liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_OperatingProfitBeforeTaxFromContinuingOperations" xml:lang="en">Operating Profit Before Tax From Continuing Operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_nwg_OperatingProfitBeforeTaxFromContinuingOperations" xml:lang="en">Operating Profit Before Tax From Continuing Operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_OperatingProfitBeforeTaxFromContinuingOperations" xml:lang="en">Operating profit before tax from continuing operations.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xml:lang="en">Cash flows from (used in) operating activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_IncomeReceivedOnOtherFinancialAssets" xml:lang="en">Income received on other financial assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_IncomeReceivedOnOtherFinancialAssets" xml:lang="en">Income received on other financial assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="en">Cash flows from (used in) investing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xml:lang="en">Purchase of financial instruments, classified as investing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_NetMovementInBusinessInterests" xml:lang="en">Net movement in business interests</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_NetMovementInBusinessInterests" xml:lang="en">Net movement in business interests.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="en">Purchase of property, plant and equipment, classified as investing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_MovementInMRELs" xml:lang="en">Movement In M R E Ls</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_nwg_MovementInMRELs" xml:lang="en">Movement in MRELs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_MovementInMRELs" xml:lang="en">Movement in MRELs.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_nwg_MovementInSubordinatedLiabilities" xml:lang="en">Movement in subordinated liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_nwg_MovementInSubordinatedLiabilities" xml:lang="en">Movement in subordinated liabilities.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="en">Cash flows from (used in) financing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xml:lang="en">Dividends paid, classified as financing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xml:lang="en">Cash and cash equivalents if different from statement of financial position at end of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xml:lang="en">Cash and cash equivalents if different from statement of financial position at beginning of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xml:lang="en">Increase (decrease) in cash and cash equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpense" xlink:to="lab_ifrs-full_InterestExpense" />
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FeeAndCommissionExpense" xlink:to="lab_ifrs-full_FeeAndCommissionExpense" />
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_nwg_ProfitBeforeImpairmentLossesReleases" xlink:to="lab_nwg_ProfitBeforeImpairmentLossesReleases" />
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OperatingExpense" xlink:to="lab_ifrs-full_OperatingExpense" />
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" />
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