Expanding Nationwide speeds up online plans
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Friday 26 November 1999
Brian Davis, the chief executive, said almost one in ten Nationwide savers now used its online service. "We are getting a lot of demand. We are having to bring our plans as far forward as possible."
Developments to be rolled out in the new year could include online mortgage applications and payment of credit-card bills. Nationwide is also considering e-pricing - passing on the cost savings from Internet banking direct to online customers. But Mr Davis ruled out launching a distinct online brand, like the Co-Operative Bank's smile.co.uk. The Internet should be just another way to reach the public, complementing local branches and phone banking, he said.
Overall, the Nationwide now has 8 per cent of the mortgage market and 7.2 per cent of UK retail savings; larger shares that Mr Davis ascribed to the Nationwide's determination to resist demutualisation. Income from interest rose by 14 per cent to pounds 477.6m for the half year, but income from other sources fell by 30 per cent to pounds 62.5m.
"We are firmly on course to pass on at least a further pounds 300m in benefits to members over the current financial year," said Mr Davis.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Iraq crisis: Isis orders Mosul shop keepers to cover mannequins
Comic Con 2014 attendees
Students offered grants if they tweet pro-Israeli propaganda
McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...