Members of the Nationwide Building Society could be in line for their share of a £340 million cash pot after it posted its strongest financial results on record. Payments are to be made to eligible members following the success.
However, it issued a caution over reduced activity in the mortgage market and subdued house prices over the rest of the year. The mutual lender saw its underlying pre-tax profit surge to £2.2 billon in the year to April, from £1.6 billion this time last year.
Its total underlying income jumped to £4.7 billion from £3.9 billion the previous year. The “strong financial performance” has allowed it to launch the Nationwide Fairer Share Payment, reports PA.
