Nationwide profits tumble by 40% with £101m coronavirus hit The lender promises no mortgage holder will lose their home over the next 12 months and tells all staff their jobs are safe.

The lender promises no mortgage holder will lose their home over the next 12 months and tells all staff their jobs are safe.

Britain's biggest building society Nationwide has seen its profits plunge by 40% after taking a £101m hit from the coronavirus pandemic.

The lender said its underlying profit before tax plunged from £788m in 2019 to £469m this year on underlying income of just over £3bn.

It was already on course for lower profits before the COVID-19 crisis, as Nationwide wrestled with lower income and payment protection insurance (PPI) claims, while at the same time investing in...
source: The Sky News

2020-05-29 11:17
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