Nationwide looks to add to 2,200-strong workforce in Northampton after reporting profits increase

Nationwide Building Society is looking to fill 150 roles in and around Northampton, it has been revealed as the company announced underlying profits were up by nine percent.

Tuesday, 24th May 2016, 9:07 am
Updated Tuesday, 24th May 2016, 10:11 am
Nationwide Building Society, Moulton Park, Northamptom

The company, which has offices in Moulton Park, released its full-year results for the financial year 2015/16 which it said showed profits were driven by strong mortgage lending, savings and a growth in its market share.

The report that Nationwide employs more than 2,200 people in the area.

A spokesman said: “We are committed to supporting the region’s economy and job market. Nationwide is currently looking to fill around 150 vacancies in the region.

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“As a major employer in the area, Nationwide continues to play a big part in the local community. Last financial year, employees based at Northampton have raised £150,891 for charity and 10,035 hours of volunteering.

“Northampton employees raised money for numerous charities including local children’s charity Kidsaid and the Bee Hive Centre,” he added.

Highlights of the report included:

* Gross mortgage lending up 20% to £32.6 billion (2015: £27.1 billion)

* Net mortgage lending up 28% to £9.1 billion (2015: £7.1 billion)

* Growth in member deposit balances of £6.3 billion (2015: £1.9 billion)

* Expanded current account base with 525,000 new accounts up 12% on 2015

* Net gainer in current account switching – up 38%

* Ranked number one for customer service satisfaction amongst its high street peer group again this year – extending lead to 7.7%

* Underlying profit up 9% at £1.337 billion (2015: £1.227 billion)

* Statutory profit up 23% at £1.279 billion (2015: £1.044 billion)

* CET1 capital ratio up to 23.2% (2015: 19.8%)

* Leverage ratio improved to 4.2% (2015: 4.1%)

Nationwide chief executive Joe Garner said: “Nationwide has demonstrated that outstanding customer service is the most sustainable path to excellent business performance.

“It’s a credit to the management and people of the Society that they have consistently understood this and organised Nationwide around this principle.

“As a result, last year we lent more money to help people into a home of their own than since before the financial crisis in 2007.

“More people are also choosing to manage their money with Nationwide, with over half a million new current accounts opened in the year.

“And our loyalty accounts and regular savings offering has led to an increase in member deposit balances of £6.3 billion.

“It is my privilege to have been asked to lead an organisation which has consistently demonstrated that it is possible to be successful by doing the right thing. Our mutual status creates an ownership model that allows us to take a long-term view and make decisions in the best interests of our members. This, and our talented people, is Nationwide’s strength and our opportunity.”