Nationwide announces record-breaking £2.8bn in returns to customers after merger
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Nationwide to return record £2.8bn to customers after Virgin merger
- Nationwide Building Society reported a record £2.8bn return to members following its merger with Virgin Money, alongside its full-year financial results.
- The building society experienced its best growth in net mortgage lending and record lending in Q1 2025, leading the UK banking sector.
- In March, Nationwide distributed £50 to 12.3 million customers and returned funds via the Fairer Share scheme as a thank you for their support during the Virgin Money merger.
- Chief Executive Debbie Crosbie highlighted an 'outstanding' year, marked by record mortgage lending growth, retail deposit balances, and top customer service rankings for the 13th consecutive year.
- Nationwide completed a £2.9bn takeover, pledged to keep all branches open until at least 2028, and saw increased branch usage, contrasting with branch closures by other banks like Lloyds and Santander.