Nationwide Building Society · LSE:NBS
Nationwide Building Society — FY 2025/26 Earnings Presentation
32 slides from Nationwide Building Society's earnings presentation, May 21, 2026
Slide 1: Annual Results Presentation
Annual Results Presentation for the period ended 31 March 2026
Slide 2: Market-leading growth in our core business, built on mutual foundations
Annual Results Presentation | Performance Summary Market-leading growth in our core business, built on mutual foundations Number one Value & service Strong financial Contributing for growth excellence performance to wider society No.1 for growth in PCA £1.8bn of member value 9% increase in underlyin
Slide 3: Strategic investment and innovation are delivering sustained improvements in productivity
Annual Results Presentation | Performance Summary Strategic investment and innovation are delivering sustained improvements in productivity Achieving market-leading growth with like-for-like costs1 contained below inflation Modernising our technological infrastructure … enabling us to deliver leadin
Slide 4: We have made significant progress on integration
Annual Results Presentation | Performance Summary We have made significant progress on integration Key milestones achieved following the acquisition of Virgin Money on 1 October 2024 Completed Part VII transfer of Virgin Money’s banking assets & liabilities to Nationwide – the largest non-ring-fenci
Slide 5: Financial Update
Financial Update
Slide 6: Continued strong financial performance
Annual Results Presentation | Financial Update Continued strong financial performance £million FY 25/26 FY 24/25 Net interest income 6,110 5,031 • FY 25/26 reflects a full year as an enlarged Group following the acquisition of Virgin Money on 1 October Net other income 268 180 2024, with FY 24/25 re
Slide 7: Low risk, diversified and strongly capitalised balance sheet
Annual Results Presentation | Financial Update Low risk, diversified and strongly capitalised balance sheet £billion 31 Mar 26 31 Mar 25 • The increase in mortgage balances reflected market- Residential mortgages 286.0 275.6 leading net lending, supported by strong levels of retention and enhanced p
Slide 8: Underlying net interest margin supported by diversification
Annual Results Presentation | Financial Update Underlying net interest margin supported by diversification Net interest margin movements, H2 24/25 through to H2 25/26, % 70 0.06 65 0.02 1.64 0.09 1.61 1.60 0 0.00 0.00 0.01 0.00 1.58 1.55 55 (0.03) (0.03) (0.01) 0 (0.01) 45 40 35 30 FY 24/25 H2 24/25
Slide 9: Continued structural hedge tailwind
Annual Results Presentation | Financial Update Continued structural hedge tailwind Structural liability hedging programme1 • Nationwide undertakes a programmatic £bn approach to structural hedging where 100 5.0% balances mature and are reinvested at prevailing rates each month. 80 74 4.0% 69 68 • Th
Slide 10: Market-leading retail mortgages performance
Annual Results Presentation | Financial Update Market-leading retail mortgages performance Mortgage balances, £bn1,2 and market share, % 280 286 276 • Mortgage net lending was £10.3bn over the year, 204 202 202 204 211 60 61 61 a market-leading performance in the period. 45 216 220 225 44 44 44 43 •
Slide 11: Progress in business and consumer lending
Annual Results Presentation | Financial Update Progress in business and consumer lending Business lending balances, £bn1,2 14.8 14.6 14.7 • Business and consumer lending accounted for 9% of lending balances, compared to less than 5.0 4.9 5.1 5% prior to the Virgin Money acquisition. 5.3 • Business l
Slide 12: Market-leading retail deposits performance
Annual Results Presentation | Financial Update Market-leading retail deposits performance Retail deposit balances, £bn1 Average member deposit rates (annualised), % 261 266 271 6.0% 5.0% 191 193 202 181 187 4.0% 3.0% 218 223 227 2.0% 145 154 159 163 170 1.0% 0.0% 36 33 32 30 32 43 43 44 H1 H2 H1 H2
Slide 13: Continued strong cost discipline
Annual Results Presentation | Financial Update Continued strong cost discipline £million FY 25/26 FY 24/25 • Like-for-like2 cost growth was below inflation Staff costs 1,644 1,303 reflecting sustained productivity improvements. Depreciation, amortisation and impairment 574 536 • The increase in unde
Slide 14: Stable credit performance
Annual Results Presentation | Financial Update Stable credit performance Residential Consumer Business Evolution of loan book (%, LHS) and Cost of Risk4 (bps, RHS) Portfolio mortgages lending lending 100 50 31 Mar 26 31 Mar 25 31 Mar 26 31 Mar 25 31 Mar 26 31 Mar 25 95 40 Total gross balances (£m) 2
Slide 15: Strong liquidity position
Annual Results Presentation | Financial Update Strong liquidity position LCR Pillar 1, 12m rolling average1, % 200% • The 12-month average LCR was 169% (31 Mar 190% 2025: 174%). Liquidity is managed against 180% our risk appetite which is more prudent than regulatory requirements. 170% 160% • The li
Slide 16: Diversified wholesale funding position underpinned by strong credit ratings
Annual Results Presentation | Financial Update Diversified wholesale funding position underpinned by strong credit ratings Wholesale funding issuance1 FY 25/26, £bn Wholesale funding portfolio by instrument1 2% 1% • Nationwide issued c.12.5bn sterling equivalent in a range 4% 7.6 of currencies throu
Slide 17: Capital generation supporting growth and distributions
Annual Results Presentation | Financial Update Capital generation supporting growth and distributions CET1 ratio (% of RWAs) • Capital surpluses remained strong and +1.7% significantly above regulatory requirements, (0.4%) (0.1%) (0.6%) 19.1% (0.7%) +0.1% 19.1% with profits supporting balance sheet
Slide 18: Leading 2025 Bank Capital Stress Test performance demonstrates capital strength
Annual Results Presentation | Financial Update Leading 2025 Bank Capital Stress Test performance demonstrates capital strength BCST Key Stress Assumptions start UK house prices fall by 28%; UK CPI inflation peaks at c.10%; • Nationwide maintained a best- 20% point 20.0% in-class low-point CET1% in t
Slide 19: Appendix
Appendix
Slide 20: Multiple economic scenario assumptions
Annual Results Presentation | Appendix Multiple economic scenario assumptions 5-year Unemployment rate, % Scenario & weighting Variable (%) 2026 2027 2028 Peak² Trough2 10 average¹ 9 GDP growth 2.3 2.2 2.0 2.1 11.0 0.5 8 Upside 10% Base rate 4.0 4.5 4.5 4.3 4.5 3.8 7 (31 March 2025: 10%) HPI growth
Slide 21: IFRS9 staging and provisioning by portfolio
Annual Results Presentation | Appendix IFRS9 staging and provisioning by portfolio Owner-occupied mortgages Buy-to-let & legacy mortgages Business lending Consumer lending 31 Mar 26 31 Mar 25 31 Mar 26 31 Mar 25 31 Mar 26 31 Mar 25 31 Mar 26 31 Mar 25 Provision Provision Provision Provision Provisio
Slide 22: LTV distribution of residential mortgage portfolios
Annual Results Presentation | Appendix LTV distribution of residential mortgage portfolios Loan book balances (by value) 31 March 2026 31 March 2025 LTV band • The proportion of balances of higher £bn % total £bn % total LTV lending has increased due to the continued support for first-time buyers <5
Slide 23: Significant headroom to regulatory capital requirements
Annual Results Presentation | Appendix Significant headroom to regulatory capital requirements Total capital CET1 capital Leverage ratio MREL (% of RWAs) (% of RWAs) (% of leverage exposure) (% of leverage exposure) 23.8% 5.3% 9.7% Tier 2 2.2% c.630bps AT1 0.6% 2.5% c.100bps c.215bps AT1 £5.5bn 19.1
Slide 24: Active in core wholesale term funding markets
Annual Results Presentation | Appendix Active in core wholesale term funding markets Public wholesale issuance by trade, FY 25/26 Instrument Tenor Currency Notional (CCY) Trade date Tier 2 10.25NC5.25 EUR 650m April 2025 Senior preferred 2yr (FRN) EUR 500m April 2025 AT1 Perp NC Dec31 GBP 700m June
Slide 25: Responsible Business
Responsible Business
Slide 26: Delivering positive impact where we can make the most difference
Annual Results Presentation | Responsible Business Delivering positive impact where we can make the most difference As demonstrated by our Mutual Good Commitments and underlying targets1 We will offer customers a choice We will help more people into We will make a positive We aim to build a more We
Slide 27: Taking meaningful action to progress towards a greener society
Annual Results Presentation | Responsible Business Taking meaningful action to progress towards a greener society Focusing our efforts on where we can add the greatest value Greening our business • Removed gas from almost 100% of our Nationwide-branded branches and data centres operations and supply
Slide 28: Continuously building more inclusive financial services
Annual Results Presentation | Responsible Business Continuously building more inclusive financial services Prioritising customer experience and leveraging our community presence Championing financial Transforming lives with Driving positive impact inclusion Nationwide Fairer Futures through our bran
Slide 29: Consistent external recognition of ESG excellence
Annual Results Presentation | Responsible Business Consistent external recognition of ESG excellence Leading ratings reflect Nationwide’s strong sustainability performance1 Please see our latest key sustainability disclosures on our Investor Relations 66 webpage: • Climate-related Financial Disclosu
Slide 30: Contact information
Annual Results Presentation | Contact Information Contact information Investor Relations mailbox nationwide.treasury@nationwide.co.uk Investor Relations website www.nationwide.co.uk/investor-relations Sarah Abercrombie Head of Treasury Funding & sarah.abercrombie@nationwide.co.uk External Relations
Slide 31: Disclaimer
Annual Results Presentation | Disclaimer Disclaimer This presentation has been prepared by and is the property of Nationwide Building Society (“Nationwide”). By attending this presentation or accepting this document you represent, warrant and agree that (i) you will not reproduce or transmit the con
Slide 32: “ nationwide
“ nationwide
Nationwide Building Society — FY 2025/26 Earnings Presentation on 6ix