- Nationwide will distribute a £100 'Fairer Share' payment to over four million eligible members in 2025, up from 3.85 million last year, costing the building society £400 million.
- To qualify for the payment, members must use Nationwide for everyday banking and hold a qualifying savings or mortgage product; payments will be made between June 18 and July 4.
- The payment follows Nationwide's 30 per cent jump in annual profits, driven by the takeover of Virgin Money and a focus on competitive interest rates.
- Nationwide CEO Debbie Crosbie reported a record £2.8 billion returned to members and the highest ever growth in mortgage lending and retail deposit balances.
- Following the £2.9 billion acquisition of Virgin Money, Nationwide has no immediate plans for job cuts and will maintain Virgin Money’s Newcastle headquarters, but long-term impacts on staff are still under review.
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