Debbie Crosbie

It’s H1 results show that the building society’s pre-tax statutory profits rose 13% year-on-year to £969m from £853m for the half year ended 30 September 2022.

Debbie Crosbie, chief executive, Nationwide Building Society, said: “Nationwide’s focus is on supporting members, today and for the long term.

“We continue to deliver competitive products, high-quality services and great customer experience. Nationwide has remained number 1 for customer satisfaction in our peer group for more than ten years.

“Our half year performance means we can invest more in new ways to support members; we have increased the current account switcher incentive and extended our support for members facing increases in the cost of living, including practical support provided in our branches, a dedicated telephone hotline and an online support hub.

“Nationwide is not immune to the current economic challenges and it’s important to maintain financial strength. Our strategy is focused on growing the membership base, increasing value to members, and becoming simpler and more efficient in the way we operate. This will ensure the Society’s future strength and ability to continue to support members and wider society.”