Nationwide Building Society (NBS) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and welcome to Nationwide's annual results call for investors. I'm Debbie Crosby, the Chief Executive and delighted to be joined this morning by Muir Matheson, our CFO. So, delighted to say it's been another outstanding year for Nationwide. We've delivered a standout year in personal current accounts with a record one million new openings as more people choose to switch to Nationwide than any other brand. In our core markets, we were once again number one for growth in mortgages, in retail deposits, and we have built strong momentum in business banking. We've had a record year for new business current account openings under our Virgin Money brand. We've also continued to set the pace on service, extending our lead over our peer group. And that matters because it really reflects that we're here to put members first and deliver consistently good outcomes. Taken together and supported by a larger, more diversified balance sheet following our acquisition of Virgin Money, this has increased underlying profit whilst delivering 1.8 billion of value back to our members. I'm delighted that our performance continues to be recognised. Forbes named Nationwide as the best bank in the UK and we led the retail banking sector in Britain's most admired companies in 2025. Our long-standing focus on better value products matched with outstanding service has once again translated into leading growth despite a very competitive market. Mortgage net lending exceeded 10.3 billion and that is the strongest performance across the UK banking sector over the 12-month period. That was driven by highly competitive pricing, targeted enhancements in our proposition including expansion into interest only, increased support for first-time buyers and higher income multiples. we've conti...