Nationwide Building Society will again pay a profit-share bonus to four million eligible customers, the fourth time it has made the payment under its Fairer Payment scheme.

Virgin Money customers, who only recently became Nationwide members following a £2.9 billion takeover, will have to wait until next year for any payout.  

Nationwide will only make the payment to members with a qualifying current account open on 31 March 2026, combined with either at least £100 in total savings or a minimum of £100 owed on a mortgage, on the same date.  

Dame Debbie Crosbie, Nationwide’s chief executive, said: “Our growth in mortgages, retail deposits and personal current accounts is leading the market, which means we can again make a Fairer Share payment to eligible members, and offer a new Member Exclusive Bond to all members.”

Payments will begin on 10 June. 

The announcment came came as the building society reported pre-tax profits of £1.49 billion, down from the £2.3bn it made last year when it earnings included a one-off gain following the acquisition of Virgin Money. 

Business lending took a slight dip, falling to £14.9bn from £15.1bn, as the firm pointed to a competitive market.

Nationwide takes Scottish branch crown

Nationwide is on track to become the largest branch network in Scotland, as other banks continue to scale back their presence.

From 4 June, the society will have 80 branches on the high street, comprising of 44 Nationwide and 36 under the Virgin Money brand.

Nationwide has 696 branches across the UK, comprising 605 Nationwide and 91 Virgin Money branches.

In November, it promised to keep every branch open until at least 2030, including in locations where Nationwide and Virgin Money branches are close by.