Nationwide Building Society has published its Consumer Confidence Index for June, which reveals that confidence declined by four points, to 51. The decline follows a substantial rise of 11 points in the previous month, with confidence regarding the present situation remaining stable. However, the Spending Index fell by six points to 74 after a rise [...]
The All-Party Parliamentary Group for Building Societies and Financial Mutuals has set out recommendations on fostering diversity and promoting mutuals in the UK financial services sector. Key recommendations of the group’s report include: The Government should adopt a comprehensive policy strategy to implement its Coalition Agreement commitment to promote mutuals. Legislation establishing the new regulatory [...]
Nationwide has announced that Mitchel Lenson and Lynne Peacock will join its board as non-executive directors on 18th July 2011. Mr Lenson has worked in the financial services industry for nearly 30 years and is a former group chief information officer at Deutsche Bank. Most recently, he was a partner of Olivant & Co, an [...]
The latest Nationwide Consumer Confidence Index has revealed that May saw one of its largest ever monthly rises in confidence, which was up 11 points. The rise has been attributed to a range of factors, including the warmer weather and the feel-good factor of the Royal Wedding, as well as the numerous bank holidays of [...]
At Southwark Crown Court yesterday, Saghir Ahmed Afzal and Ian McGarry were sentenced to a combined total of 20 years of imprisonment, after admitting their roles in a £50 million mortgage fraud. Mr Afzal, from Birmingham, was sentenced to 13 years of imprisonment, and Ian McGarry, a chartered surveyor from Hertfordshire, received a seven-year custodial [...]
Nationwide has reported its preliminary financial results for the year ended 4 April 2011, including underlying profits of £276m. This is around £60m better than the £212m achieved last year, and Nationwide also recorded a statutory pre-tax profit of £317m, down somewhat from the £341m of the previous year. Non-interest income grew substantially, rising by [...]
Nationwide has released its latest Consumer Confidence Index findings, which saw confidence in April decline marginally, dropping by two points from March. As a result, confidence is a mere four points above the record low of February 2011, though the modest change in confidence suggests a stabilisation of attitudes at a low level. The Budget [...]
The latest Nationwide Consumer Confidence Index has revealed that March saw a five point rise in confidence, following the record low of February. The Present Situation Index was almost flat, rising by a solitary point to 21, following a three point drop in the previous month. The Spending Index, which measures confidence relating to whether [...]
Nationwide Building Society has announced the launch of a new limited-edition three year fixed rate cash ISA, paying an annual interest rate of 4.2% AER. The new ISA is only available to those who already have a savings relationship with Nationwide and comes as part of the building society’s ongoing commitment to reward loyal customers [...]
The Nationwide Consumer Confidence Index for February has been released, with confidence slumping by 10 points to its lowest level since the Index was first established in May 2004. The Expectations Index showed a particular deterioration in confidence, with consumers ever more pessimistic about the job and economic prospects in six months’ time. The Spending [...]
Nationwide Building Society has called on the Government to use the forthcoming Budget as an opportunity to promote a savings culture in the United Kingdom. Presently 16 million Britons have no savings at all, and Nationwide hopes that the Budget will help remedy this as well as particularly encouraging children and their parents to save. [...]
Consumers are confused about the benefits of tax-free ISAs, with many failing to advantage of their ISA tax relief, according to new research from Nationwide Building Society. Out of every 20 people asked, 19 did not know what their ISA tax-free allowance would be next year, and more than one out of every four respondents [...]
Nationwide Building Society has released its Consumer Confidence Index for January, which saw a decline of seven points that almost offset the rise in confidence witnessed in December. The Spending Index fell particularly sharply, and now stands at its lowest level since November 2008. Consumers surveyed for the Index were found to be pessimistic about [...]
Nationwide Building Society has won the award for The Most Responsible Credit Card Lending Practices at The Card & Payments Awards 2011. This is the fourth consecutive occasion the firm has won the award, the first time any firm has achieved such a feat. Nationwide was also shortlisted in the Best Security or Anti-Fraud category. [...]
Nationwide has signed a new agreement with existing protection and investments partner, Legal & General, to provide Retail Distribution Review compliant investment products and services, until 2016. The mutual says the deal forms a key element of its strategy to become the leading High Street provider of quality financial advice, and around 150 new jobs [...]
Nationwide is closing 13 branches, in a weeding out of its unprofitable High Street operations. The following branches in London will close: Blackheath, Burnt Oak, Catford, Greenwich, Hendon, Kentish Town, Lewisham, Peckham, Walworth and Woolwich, leaving 103 Nationwide branches across the Greater London area and 120 inside the M25. In addition, the Nationwide branch in [...]
Nationwide Building Society has announced the appointment of Robert Gardner to the position of chief economist. Gardner succeeds Martin Gahbauer, who spent more than three years at Nationwide. His new post with the building society makes him the key spokesman for Nationwide’s House Price and Consumer Confidence indices, as well as other matters concerning economic [...]
The latest Nationwide Consumer Confidence Index saw a moderate rise in December, after three consecutive months of decline. Consumer confidence rose to 53, off-setting November’s fall, but it remains significantly below the trend average of 81. The Spending Index, now at 90, remains robust, even during a time of generally downbeat sentiment as the country [...]
