Customers of Nationwide are set to receive a cash boost following record financial results were announced by the building society. The company reported its underlying pre-tax profit in the year to April had shot up to £2.2billion, up from £1.6billion from this time last year.
It also said its underlying income jumped to £4.7billion from £3.9billion the previous year. Following the performance, Nationwide announced it was launching a scheme which would pay eligible members £100 in their current accounts next month.
A pot worth £340million has been set aside for the scheme. Nationwide said the customers who will receive the cash will be those “with the deepest relationships”.
