Nationwide grows lending 13%

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Nationwide Building Society has announced gross lending of £23.6bn for the first nine months of its financial year, up 13.5 per cent on £20.4bn in the same period of 2014.

The firm’s net lending was £6.7bn in the first three quarters of the financial year, up from £5.7bn in the corresponding period of 2014.

Nationwide’s profit before tax was £1.129bn, up slightly on £1.123bn over the same period a year earlier.

Nationwide chief executive Graham Beale says: “This success is the result of continued investment in our products, our branches, our digital channels and our services.

“As a building society, our primary focus is on our members, and notwithstanding the continued low interest rate environment, we will continue to invest in the society and our member
proposition going forward.”