Over 100,000 customers in Northern Ireland to receive new Fairer Share Payment as Nationwide reports ‘outstanding’ results
Over 100,000 people in Northern Ireland are to benefit from Nationwide’s Fairer Share Payment after the building society reported a bumper twelve months.
Nationwide, which has branches dotted around the province, returned a record £2.8 billion in value to members last year, including £1 billion in direct payments to those eligible.
It also delivered £1.8 billion in better than average rates and incentives, with deposit rates over 30 per cent higher.
The building society today (Thursday, May 29) announced outstanding full year results with record growth in retail deposits and net mortgage lending, including, it says, 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.
Nationwide also announced a new Fairer Share Payment with over four million members receiving £100 each.
The payment goes to eligible members choosing the mutual for their everyday banking, in addition to holding a qualifying savings or mortgage product. It will be paid directly into their current account between June 18 and July 4.
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.”
A total of 5.7 million customers visited the society’s branches last year – a year-on-year increase of four per cent. Over 30 per cent of new current accounts and 40 per cent of ISAs were opened in branch last year.
Nationwide also continued to invest in digital channels – providing members choice in how they bank. The society saw an 11 percent increase in app usage last year.