Nationwide profits soar despite bad debts
Thursday 23 May 2013
Nationwide, Britain's biggest building society, grabbed its largest-ever share of the mortgage market last year and saw its profits jump as it continued to attract customers from discredited high street banks.
But the mutual suffered a huge increase in bad-debt provisions for its loans on commercial properties. These more than doubled from £247m to £493m, over a quarter of its commercial property loan book.
The retail business's growth more than countered this and headline profits rose 56 per cent to £475m. Gross lending rose by 17 per cent to £21.5bn, taking Nationwide's market share to 15.1 per cent.
Harry Potter actor suffered 'severe flu-like symptoms' on a flight from London to Orlando
First full-length look is finally here
Rap music mogul accused of running two men over in his truck
World cities ranked in terms of safety, food security and 'liveability'
"Oink! Oink! Hee hee hee!" First interview with the big-screen star
Biohacking group hopes technology will lead people to think about even more dystopian uses
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Mia Khalifa: Pornhub star claims Drake sent her 'cringeworthy' naked photos on Instagram
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...