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Britain’s Nationwide annual profit nearly doubles

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Reuters UK

LONDON (Reuters) -Nationwide Building Society reported its annual profit nearly doubled on Friday, as it largely shrugged off the impact of the COVID-19 crisis and rising inflation on Britain’s economy. The customer-owned lender reported pretax profits for the fiscal year ended April 4 of 1.6 billion pounds ($2.00 billion), up from 823 million pounds the previous year. “Our financial performance for the year was better than anticipated, as market conditions recovered more strongly than expected over the course of the year, leading to significantly higher profits,” Chief Executive Joe Garner sa…

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