Nationwide has reported its strongest financial results on record.
The Swindon-headquartered building society has pledged, as a result, to hand out £340m in payments to eligible members. However, it cautioned over reduced activity in the mortgage market and subdued house prices over the rest of the year.
The organisation, which has 625 branches across the country saw its underlying pre-tax profit surge to £2.2bn in the year to April, from £1.6bn this time last year. Its total underlying income jumped to £4.7bn from £3.9bn the previous year.
