United Kingdom · Delayed Price · Currency is GBP Nationwide Building Society Earnings Call Transcripts
Fiscal Year 2026
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Record growth in current accounts, mortgages, and deposits drove a 9% rise in underlying profit to GBP 2 billion, with robust capital ratios and successful Virgin Money integration. Member value returned reached GBP 1.8 billion, and cost discipline was maintained.
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Achieved market-leading growth in mortgages and deposits, with underlying profit up 2% year-on-year to £977 million. Integration with Virgin Money is ahead of plan, and robust capital and liquidity positions support continued investment and member value.
Fiscal Year 2025
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Record profits and organic growth were achieved, supported by the Virgin Money acquisition and strong customer satisfaction. Margin compression is expected amid heightened competition, but robust capital and liquidity positions provide stability.
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Record H1 growth in mortgages and deposits, strong member value, and robust capital ratios were achieved, despite lower profits due to competitive pricing and base rate changes. The Virgin Money acquisition boosts scale, diversification, and future business banking ambitions.