This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-36366471
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Nationwide profits rise to £1.3bn | Nationwide profits rise to £1.3bn |
(35 minutes later) | |
Nationwide building society has reported a 23% rise in full-year pre-tax profits to £1.3bn. | Nationwide building society has reported a 23% rise in full-year pre-tax profits to £1.3bn. |
The building society reported a profit of £1.04bn a year earlier. | The building society reported a profit of £1.04bn a year earlier. |
The society's new chief executive, Joe Garner, who took over last month, said the results showed strong mortgage lending and strong savings inflows. | The society's new chief executive, Joe Garner, who took over last month, said the results showed strong mortgage lending and strong savings inflows. |
He said that Nationwide offered "outstanding customer service" and added that it was his job to build on this success. | He said that Nationwide offered "outstanding customer service" and added that it was his job to build on this success. |
The society said that "uncertainty surrounding the EU referendum and the global economic outlook" would be likely to have some impact on UK economic activity in the near future. | The society said that "uncertainty surrounding the EU referendum and the global economic outlook" would be likely to have some impact on UK economic activity in the near future. |
However, it added: "We expect the housing market to remain resilient, with any dampening of activity from modest increases in interest rates offset by a strengthening labour market and an under supply of housing." | However, it added: "We expect the housing market to remain resilient, with any dampening of activity from modest increases in interest rates offset by a strengthening labour market and an under supply of housing." |
Nationwide said it had seen its net mortgage lending rise 28% to £9.1bn, from £7.1bn the year before. | Nationwide said it had seen its net mortgage lending rise 28% to £9.1bn, from £7.1bn the year before. |
Over the past four years, it had accounted for 36% of net mortgage lending in the UK, reinforcing its position as the country's second-largest mortgage lender, it added. | Over the past four years, it had accounted for 36% of net mortgage lending in the UK, reinforcing its position as the country's second-largest mortgage lender, it added. |
Last year member deposit balances rose by £6.3bn, as against an increase of £1.9bn in the previous year. | |
"More people are also choosing to manage their money with Nationwide, with over half a million new current accounts opened in the year," said Mr Garner. |
Previous version
1
Next version