Northamptonshire-based Nationwide doubled profits in nine months

Nationwide building society HQ in Moulton Park
Nationwide building society HQ in Moulton Park

Nationwide building society, which has headquarters in Moulton Park, doubled its profit in the first nine months of its financial year, figures released today show.

Nationwide also said it is attracting customers from banks, some of who were implicated in the mis-selling of loan insurance and the rigging of interest rates.

Nationwide said its statutory profit increased to 946 million pounds (105 per cent rise) in the nine months up to the end of December 2014. The bulding society’s underlying profit was up almost 80 percent to £963 million.

It said 339,000 new current accounts were opened between April and December and its share of the market grew.

Graham Beale, Nationwide’s chief executive, said: “Our performance in the third quarter reflects a continuation of the strong trends disclosed in our half year results.”