Nationwide Profits Up 21%
Nationwide building society reports increased profits
19th May 2005
The Nationwide building society has reported increased profits, with a pre-tax annual profit of £517m for the last financial year, up from £427m the year before.
While the slowing housing market saw its net mortgage lending fall from £13.2bn to £10.9bn, Nationwide still holds 11.8% of the total mortgage market, and said that the 'strength of its ongoing business' meant profits were not negatively affected.
The mutual gained over 875,000 new customers last year, and there are over 1m Nationwide credit cards in use.
Read More: BBC Report
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Products from Nationwide : Mortgages |
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