Latest Nationwide Building Society (ASX:NBS) News

Big swings hit ASX financials this week as profit updates, takeover votes and cost cuts drove fast re-pricing. The winners paid (or promised) cash. The laggards spooked investors with losses, restructures or shaky earnings outlooks.

Clydesdale Bank, trading as Virgin Money, will transfer its banking business to Nationwide Building Society following High Court approval, marking a key step in their integration.

Nationwide Building Society reports a solid first half of 2025 with underlying profit before tax rising to £977 million, driven by strong mortgage and deposit growth following its acquisition of Virgin Money. The Group maintains robust capital and credit quality while delivering significant value to members.

Virgin Money UK, trading as Clydesdale Bank, has applied to the High Court for approval to transfer its entire banking business to Nationwide Building Society, pending a February 2026 hearing.

Nationwide Building Society has confirmed it has largely complied with its post-offer intentions following its acquisition of Virgin Money UK PLC, with a previously disclosed exception.