Nationwide Building Society

“Nationwide Building Society has reported a 46% drop in annual profits as it continues to feel the impact of low interest rates.”

“Underlying pre-tax profits fell to £212m for the year to 4 April from £393m a year earlier.”

“The society said it expected that the house prices would stabilise over the coming year, after rising by 9% in the past 12 months.”

“Its share of the mortgage market fell slightly to 8.7% from 9% in 2009, while mortgage lending totalled £12bn in the year to 4 April.”

“Just 0.68% of residential mortgage accounts were more than three months in arrears, up from 0.64% in 2008-09 but still less than the average of 2.22% experienced by all members of the Council of Mort…”

“The amount of money it had to set aside for bad debts on customers' loans rose from £394m to £549m in the past financial year.”

“Little of this reflected defaults by normal mortgage customers, with the majority - £299m - due to bad loans secured on commercial property.”

“Some 565 people could lose their jobs under plans by the Nationwide Building Society to shut branches by 2012.”

“Twelve Derbyshire branches will close in Arnold, Buxton, New Mills, Chapel-en-le-Frith, Chester, Coventry, Grimsby, Hanley, Leicester, Loughborough, Manchester and Sheffield.”

“The Cheshire branches facing closure are Biddulph, Droyleden, Leyland, Poynton and Romiley.”

“The job losses will include 240 in Derbyshire, 250 in Cheshire and 75 in Dumferline.”

“Nationwide's branch in Dunfermline will become a dedicated administration centre with the creation of 150 jobs.”

“Another 90 jobs will be created in Nationwide's Swindon and Northampton offices.”

“Nationwide merged with its three smaller rivals in 2008”

“Nationwide merged with the Derbyshire, Cheshire and Dunfermline societies in 2008”

“In April, the year-on-year increase in house prices returned to double figures for the first time since June 2007, the Nationwide Building Society has said.”