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Nationwide profits jump 30% after 'outstanding' year
The Independent
|May 30, 2025
Nationwide Building Society has posted a 30 per cent jump in annual profits after an "outstanding" year that saw it complete the takeover of Virgin Money.
The mutual reported pre-tax profits of £2.3bn for the year to 31 March, up from £1.8bn the previous year, which came despite it handing out a record £2.8bn in value to members, including £1bn in rewards.
Nationwide announced yesterday it would distribute its third Fairer Share payout to eligible members next month, working out at £100 each. Last year, it paid out £385m to 3.85 million customers, while members also benefited from a one-off £615m reward as part of the “The Big Nationwide Thank You”.
On an underlying basis, pre-tax profits fell to £1.9bn from £2bn as Nationwide said it focused on offering competitive interest rates to customers.
This story is from the May 30, 2025 edition of The Independent.
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