Nationwide Building Society (NBS) Q4 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.836 Good morning everyone and thank you for joining us for Nationwide Building Society Full 00:00:04.836 -- 00:00:09.982 Year Results Call. I'm Debbie Crosby, I'm the Chief Executive and I'm joined this morning 00:00:09.982 -- 00:00:15.028 by Chris Rhodes, our Chief Financial Officer and Muir Matheson, our Deputy Chief 00:00:15.028 -- 00:00:17.971 Financial Officer and Treasurer. 00:00:17.971 -- 00:00:22.996 So, I'm delighted to say we have made excellent progress against the strategy 00:00:22.996 -- 00:00:28.448 that I shared with you 12 months ago. Evidence through sustained growth 00:00:28.448 -- 00:00:34.878 in our core markets, a strong service performance and enhanced member benefits. 00:00:34.878 -- 00:00:40.006 And not only do we remain number one for customer satisfaction amongst our peer group 00:00:40.006 -- 00:00:45.354 for a 12th consecutive year, but we've also increased our lead in the past year 00:00:45.354 -- 00:00:48.155 from 3.8% to 5.5%. 00:00:50.065 -- 00:00:55.150 Our approach to provide better value products means we are in the unique position of 00:00:55.150 -- 00:01:00.515 having grown both our mortgage and deposit balances, allowing us to maintain 00:01:00.515 -- 00:01:05.800 market share despite significant competitive pressures. 00:01:05.800 -- 00:01:10.804 We also continue to grow in current accounts, attracting a record number 00:01:10.804 -- 00:01:16.129 of switchers. That's one in six in the overall market switchers underpinned 00:01:16.129 -- 00:01:18.027 by our leading 00:01:18.027 -- 00:01:21.271 market-leading cashback incentive. 00:01:21.271 -- 00:01:26.277 During the year, we chose to pass on a higher percentage of base rate rises to our savers 00:01:26.277 -- 00:01:32.325 than our competitors, wit...