Nationwide Building Society recorded its highest ever year for growth in mortgage lending and returned £2.8 billion to its members, including £1 billion in direct member rewards as a 'thank you' after completing the acquisition of Virgin Money.
The mutual reported a statutory profit before tax of £2.3 billion for the year to March 2025, up from £1.78 billion a year earlier.
Group net mortgage lending totalled £15.9 billion, up from £2.6 billion, while group retail deposits rose by £67.3 billion to £260.7 billion, increasing market share to 12.2%.
Chief executive Debbie Crosbie called it "an outstanding twelve months", with the building society's highest ever year for growth in mortgage lending and retail deposit balances.
She added: "The Virgin Money performance was strong in the six months since our acquisition, with improvements in customer service and a return to growth in mortgage lending."
The Group CET1 ratio was 19.1% and the leverage ratio stood at 5.2%. Arrears rates remained low and stable.