Sunday 15 December 2019
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theguardian - 23 days ago

Nationwide profits hit by mortgage war and PPI mis-selling

Building society prioritising IT investment over ‘short-term profits’, says chief executiveThe mortgage price war and a new charge for mis-sold payment protection insurance (PPI) have helped wipe 40% off first-half profits at Britain’s biggest building society.Nationwide, which has almost 16 million members, said its statutory profits fell to £309m during the six months to 30 September – down from £516m last time. The society said it had decided to prioritise investment in technology and other areas over “short-term profit”. Continue reading...


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