trending Market Intelligence /marketintelligence/en/news-insights/trending/KhyxhlZOc3l4mMNXLqW1tw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Nationwide fiscal Q1 profit down YOY

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Nationwide fiscal Q1 profit down YOY

Nationwide Building Society reported statutory after-tax profit of £240 million for the quarter ended June 30, down from £292 million in the same period in 2016.

Statutory pretax profit, including £20 million of derivative and hedge accounting gains, fell on a yearly basis to £322 million from £401 million.

Underlying pretax profit decreased year over year to £301 million from £368 million. The company noted that the underlying profit included a £26 million one-off gain from the sale of its stake in VocaLink while the year-ago figure included a £100 million one-off gain from the disposal of its stake in Visa Europe.

"Profit performance in the first quarter remained comfortably within our strategic target range and, after allowing for one-off items, was broadly consistent with the prior period," CEO Joe Garner said.

Gross residential mortgage lending fell on a yearly basis to £8.1 billion from £8.6 billion, while member deposit balances rose to £145.8 billion from £144.5 billion.

The net interest margin remained flat year over year at 1.35%.

The building society booked impairment losses on loans and advances of £36 million for the period, more than double compared to the year-ago £16 million.

The company's common equity Tier 1 ratio stood at 26.4% at June 30, compared to 25.4% at April 4. The CRR leverage ratio was 4.1% at June-end, compared to 4.2% at April 4.

Nationwide's liquidity coverage ratio stood at 133.6% for the quarter ended June 30, compared to 124.0% a year earlier.