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Nationwide Building Society (POB_p.L)

POB_p.L on London Stock Exchange

109.93GBP
20 Nov 2019
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Latest Key Developments (Source: Significant Developments)

Nationwide expects new PPI charge of 20 mln to 50 mln pounds
Friday, 13 Sep 2019 

Sept 13 (Reuters) - Nationwide Building Society ::IN LINE WITH EXPERIENCE IN BROADER MARKET, SOCIETY RECEIVED A HIGHER THAN ANTICIPATED VOLUME OF PPI COMPLAINTS.ESTIMATES THAT AN INCREMENTAL CHARGE WILL BE MADE, IN ADDITION TO PROVISION AS AT 4 APRIL 2019, IN RANGE OF £20 MILLION TO £50 MILLION.UPPER END OF THIS PROVISIONAL ESTIMATE IS NOT SIGNIFICANT TO SOCIETY'S FINANCIAL POSITION.  Full Article

Nationwide Building Society Profits Include A £116M Cost Of Debt Buy‐Back
Tuesday, 22 May 2018 

Nationwide Building Society ::STATUTORY PROFIT BEFORE TAX OF £977 MILLION HAS BEEN ADJUSTED FOR A NUMBER OF ITEMS.AN UNDERLYING PROFIT BEFORE TAX OF £1,022 MILLION.PROFITS INCLUDE A £116M COST OF DEBT BUY‐BACK.UK LEVERAGE RATIO IMPROVED TO 4.9%.IF SUCCESSFUL IN APPLICATION FOR FUNDING FROM MONEY GOVERNMENT HAS ASKED RBS TO SET ASIDE, WE INTEND TO ROLL OUT A MUTUAL BUSINESS ALTERNATIVE TO BIG FIVE BANKS, NATIONWIDE.WE WILL REFINE OUR TECHNOLOGY STRATEGY AND INVESTMENT PLAN THIS MIGHT REQUIRE.THANKS TO ALTERNATIVE REMEDIES FUND, FINANCED BY RBS TO BOOST COMPETITION IN BANKING, WE ARE APPLYING FOR UP TO £50 MILLION TO LAUNCH A BUSINESS CURRENT ACCOUNT.DEMAND IN HOUSING MARKET LOOKS SET TO REMAIN SUBDUED, LACK OF SUPPLY WILL PROVIDE SUPPORT FOR PRICES. WE EXPECT MARKET TO REMAIN EXTREMELY COMPETITIVE..IMPAIRMENT LOSSES HAVE DECREASED BY £35 MILLION.  Full Article

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