Nationwide Says Profit to ‘Moderate’ Amid Rising Competition

  • Pretax profit rose 23 percent to $1.86 billion in fiscal year
  • Customer-owned lender predicts further ‘margin pressure’

Nationwide Building Society, the U.K.’s second-largest mortgage provider, said earnings may “moderate” this year because of rising competition for home loans and investment in digital banking after it posted a 23 percent rise in profit.

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