Nationwide profits hit by low interest rate environment

Nationwide profits hit by low interest rate environment
 

Nationwide has reported a drop in half-year profits as low interest rates squeezed profit margins.
Profits at the UK's biggest building society fell to £696m for the six months to 30 September, down from £802m a year earlier.
But it said net mortgage lending was its "best ever", rising by 46% to £6bn.
The mutual organisation also said its current account had attracted record numbers, with 377,000 people opening an account in the period, a jump of 36%.
Nationwide chief executive Joe Garner said: "We have taken the conscious decision to stand by our members, continuing to help... read more

 
18 November 2016 in Business, Views: 43
Source: BBC
Share:
  •  





    News Widget for Webmasters



    Bring Eugene's son back home immediately

    Realtime News

     

    «
    »
    Mo Tu We Th Fr Sa Su
          1 2 3 4
    5 6 7 8 9 10 11
    12 13 14 15 16 17 18
    19 20 21 22 23 24 25
    26 27 28 29 30 31