Latest Nationwide Building Society (ASX:NBS) News

Battery tech, biotech and balance-sheet repair drove the biggest gains this week, while guidance cuts and weak post-halt trading hurt several names. Deal-making and fresh equity funding stayed busy, especially in rare earths, defence and gold.

Big gains in InvestSMART met heavy selling in General Capital and Klevo as investors split between clean balance-sheet stories and names carrying extra uncertainty. Finance stocks were driven by capital returns, raisings, loan growth and a handful of governance risks.

Nationwide Building Society reported a 9% rise in underlying profit to £2.026 billion for FY26, driven by market-leading mortgage growth and successful Virgin Money integration, while maintaining robust capital and liquidity positions.

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.