https://www.reuters.com/article/uk-nationwide-results-idUKKBN2350MZ

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LONDON (Reuters) - Britain’s Nationwide Building Society ( POB_p.L ) will no longer be able to offer customers above-market savings rates, it said on Friday after setting aside more cash to cover a likely spike in loan losses because of the coronavirus pandemic. FILE PHOTO: Signage is seen outside of a Nationwide Building Society in London, Britain, May 22, 2019. REUTERS/Hannah McKay. The bellwether mortgage lender booked a 101 million pound ($124.6 million) hit from expected credit losses and will focus for now on maintaining capital reserves after profit for the year to April 4 fell 44% to 466 million pounds. Nationwide said profit had been under pressure before the pandemic, owing to ma... Full story

29 May

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