Latest news with #TheBigNationwideThankYou
Western Telegraph
4 days ago
- Business
- Western Telegraph
Nationwide gives exact date for free £100 customer bonus
The high street bank returned a record £2.8 billion in value to members last year, including £1 billion in direct payments to eligible members. It also delivered £1.8 billion in better-than-average rates and incentives, with deposit rates over 30 per cent higher. Britain's biggest building society today announced outstanding full-year results with record growth in retail deposits and net mortgage lending, including help for more first-time buyers than any other lender in the UK. Statutory profit before tax rose to a record £2.3 billion, even after returning £1 billion directly back to members through last year's Fairer Share Payment and The Big Nationwide Thank You. Whether you want to speak to a real person in branch, or do your banking online, there are many ways you can bank with us. If you need support, get in touch: — Nationwide (@AskNationwide) January 2, 2025 Nationwide announced a new Fairer Share Payment today, with over four million members receiving £100 each. The payment goes to eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product. It will be paid directly into their Nationwide current account between 18 June and 4 July. It is also launching a market-leading 5% Member Exclusive Bond and a £200 member-only switching incentive. Debbie Crosbie, Nationwide's Chief Executive, said: 'Nationwide has had an outstanding twelve months. We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service.' Recommended reading: The Member Exclusive Bond is available from today to all 16 million existing members and can be opened in a branch, online or via the Banking App. Members saving the maximum £10,000 would receive £762.50 in interest after 18 months - over £150 more than they would receive over the same period in our next highest-rate bond (4% 1 Year Fixed Rate Bond). Members who didn't have their main current account with Nationwide on 31 March can benefit from a £200 Member Exclusive Current Account Online Switch Offer from today.
North Wales Chronicle
5 days ago
- Business
- North Wales Chronicle
Nationwide cheers ‘outstanding' year after completing Virgin Money takeover
The mutual reported pre-tax profits of £2.3 billion for the year to March 31, up from £1.8 billion the previous year, which came despite it handing out a record £2.8 billion in value to members including £1 billion in rewards. Nationwide announced on Thursday it would distribute its third Fairer Share payout to eligible members next month, working out at £100 each. Last year, it paid out £385 million to 3.85 million customers, while members also benefited from a one-off £615 million reward as part of the 'The Big Nationwide Thank You'. On an underlying basis, pre-tax profits fell to £1.9 billion from £2 billion as Nationwide said it focused on offering competitive interest rates to customers. Debbie Crosbie, group chief executive of Nationwide Building Society, said: 'Nationwide has had an outstanding twelve months. 'We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances.' She added: 'The Virgin Money performance was strong in the six months since our acquisition, with improvements in customer service and a return to growth in mortgage lending.' The firm completed the £2.9 billion takeover of Virgin Money last year, which has seen it become the UK's second largest mortgages and savings provider. The group said integration of the acquisition was 'progressing well'. Nationwide said it was continuing to run the two businesses separately initially after the acquisition and had no plans for job cuts in the short-term. But Ms Crosbie said it was 'too early to say' what impact there would be on staff of the combined group further out as it integrates the businesses. 'Every business always reviews its workforce and we'll continue to do that on an ongoing basis, but it's too early to say if there'll be an impact on the broader workforce,' she said. She also signalled Nationwide would keep Virgin Money's Newcastle headquarters, with Ms Crosbie saying 'the current footprint that we have will remain the same'. Virgin Money's figures showed it notched up a record £15.5 billion of net lending (new lending less redemptions) over the year, while retail savings balances grew by 35% to £260.7 billion. Its interest rates on retail deposits were on average 30% higher than the market, according to the group. It is pencilling in modest growth in the wider UK economy of 1.4% this year and said borrowers remain resilient. 'The global economic outlook remains highly uncertain, but UK households and the UK-focused businesses we support appear generally well placed for potential shocks,' it said.
Rhyl Journal
5 days ago
- Business
- Rhyl Journal
Nationwide cheers ‘outstanding' year after completing Virgin Money takeover
The mutual reported pre-tax profits of £2.3 billion for the year to March 31, up from £1.8 billion the previous year, which came despite it handing out a record £2.8 billion in value to members including £1 billion in rewards. Nationwide announced on Thursday it would distribute its third Fairer Share payout to eligible members next month, working out at £100 each. Last year, it paid out £385 million to 3.85 million customers, while members also benefited from a one-off £615 million reward as part of the 'The Big Nationwide Thank You'. On an underlying basis, pre-tax profits fell to £1.9 billion from £2 billion as Nationwide said it focused on offering competitive interest rates to customers. Debbie Crosbie, group chief executive of Nationwide Building Society, said: 'Nationwide has had an outstanding twelve months. 'We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances.' She added: 'The Virgin Money performance was strong in the six months since our acquisition, with improvements in customer service and a return to growth in mortgage lending.' The firm completed the £2.9 billion takeover of Virgin Money last year, which has seen it become the UK's second largest mortgages and savings provider. The group said integration of the acquisition was 'progressing well'. Nationwide said it was continuing to run the two businesses separately initially after the acquisition and had no plans for job cuts in the short-term. But Ms Crosbie said it was 'too early to say' what impact there would be on staff of the combined group further out as it integrates the businesses. 'Every business always reviews its workforce and we'll continue to do that on an ongoing basis, but it's too early to say if there'll be an impact on the broader workforce,' she said. She also signalled Nationwide would keep Virgin Money's Newcastle headquarters, with Ms Crosbie saying 'the current footprint that we have will remain the same'. Virgin Money's figures showed it notched up a record £15.5 billion of net lending (new lending less redemptions) over the year, while retail savings balances grew by 35% to £260.7 billion. Its interest rates on retail deposits were on average 30% higher than the market, according to the group. It is pencilling in modest growth in the wider UK economy of 1.4% this year and said borrowers remain resilient. 'The global economic outlook remains highly uncertain, but UK households and the UK-focused businesses we support appear generally well placed for potential shocks,' it said.
North Wales Chronicle
6 days ago
- Business
- North Wales Chronicle
Nationwide gives exact date for free £100 customer bonus
The high street bank returned a record £2.8 billion in value to members last year, including £1 billion in direct payments to eligible members. It also delivered £1.8 billion in better-than-average rates and incentives, with deposit rates over 30 per cent higher. Britain's biggest building society today announced outstanding full-year results with record growth in retail deposits and net mortgage lending, including help for more first-time buyers than any other lender in the UK. Statutory profit before tax rose to a record £2.3 billion, even after returning £1 billion directly back to members through last year's Fairer Share Payment and The Big Nationwide Thank You. Whether you want to speak to a real person in branch, or do your banking online, there are many ways you can bank with us. If you need support, get in touch: — Nationwide (@AskNationwide) January 2, 2025 Nationwide announced a new Fairer Share Payment today, with over four million members receiving £100 each. The payment goes to eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product. It will be paid directly into their Nationwide current account between 18 June and 4 July. It is also launching a market-leading 5% Member Exclusive Bond and a £200 member-only switching incentive. Debbie Crosbie, Nationwide's Chief Executive, said: 'Nationwide has had an outstanding twelve months. We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service.' Recommended reading: The Member Exclusive Bond is available from today to all 16 million existing members and can be opened in a branch, online or via the Banking App. Members saving the maximum £10,000 would receive £762.50 in interest after 18 months - over £150 more than they would receive over the same period in our next highest-rate bond (4% 1 Year Fixed Rate Bond). Members who didn't have their main current account with Nationwide on 31 March can benefit from a £200 Member Exclusive Current Account Online Switch Offer from today.
Leader Live
6 days ago
- Business
- Leader Live
Nationwide cheers ‘outstanding' year after completing Virgin Money takeover
The mutual reported pre-tax profits of £2.3 billion for the year to March 31, up from £1.8 billion the previous year, which came despite it handing out a record £2.8 billion in value to members including £1 billion in rewards. Nationwide announced on Thursday it would distribute its third Fairer Share payout to eligible members next month, working out at £100 each. Last year, it paid out £385 million to 3.85 million customers, while members also benefited from a one-off £615 million reward as part of the 'The Big Nationwide Thank You'. On an underlying basis, pre-tax profits fell to £1.9 billion from £2 billion as Nationwide said it focused on offering competitive interest rates to customers. Debbie Crosbie, group chief executive of Nationwide Building Society, said: 'Nationwide has had an outstanding twelve months. 'We returned a record £2.8 billion in value to our members and recorded our highest ever year for growth in mortgage lending and retail deposit balances.' She added: 'The Virgin Money performance was strong in the six months since our acquisition, with improvements in customer service and a return to growth in mortgage lending.' The firm completed the £2.9 billion takeover of Virgin Money last year, which has seen it become the UK's second largest mortgages and savings provider. The group said integration of the acquisition was 'progressing well'. Nationwide said it was continuing to run the two businesses separately initially after the acquisition and had no plans for job cuts in the short-term. But Ms Crosbie said it was 'too early to say' what impact there would be on staff of the combined group further out as it integrates the businesses. 'Every business always reviews its workforce and we'll continue to do that on an ongoing basis, but it's too early to say if there'll be an impact on the broader workforce,' she said. She also signalled Nationwide would keep Virgin Money's Newcastle headquarters, with Ms Crosbie saying 'the current footprint that we have will remain the same'. Virgin Money's figures showed it notched up a record £15.5 billion of net lending (new lending less redemptions) over the year, while retail savings balances grew by 35% to £260.7 billion. Its interest rates on retail deposits were on average 30% higher than the market, according to the group. It is pencilling in modest growth in the wider UK economy of 1.4% this year and said borrowers remain resilient. 'The global economic outlook remains highly uncertain, but UK households and the UK-focused businesses we support appear generally well placed for potential shocks,' it said.
