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Nationwide Building Society reports £1.8bn pre-tax profit, down from £2.2bn, plans £385m bonus payout and £2.9bn Virgin Money acquisition.
Nationwide Building Society reported a £1.8bn pre-tax profit for the year to April 4, down from £2.2bn the previous year, due to £344m paid to members and interest rate increases.
It plans to pay out another £385m bonus to members and acquire rival lender Virgin Money for £2.9bn.
The mortgage market is expected to improve due to falling interest rates and wage inflation outpacing CPI inflation.
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Nationwide Building Society informa un beneficio antes de impuestos de 1.800 millones de libras, frente a 2.200 millones de libras, planea un pago de bonificación de 385 millones de libras y la adquisición de Virgin Money por 2.900 millones de libras.