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Nationwide takes £100m hit as profits plummet

by LLB Reporter
29th May 20 9:47 am

Nationwide has taken a 40% hit as profits have plummeted by more than £100m over the coronavirus pandemic.

In the year ending 4 April profit before tax fell to £469m, compared to £788m the year before, with underlying income of just over £3bn, down by 4%.

Chief executive Joe Garner said, “While the coronavirus impacted our profitability in the last few weeks of the year, there was pressure on margins even before it hit.”

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