February 10, 2017 / 7:15 AM / in 5 months

BRIEF-Nationwide Building Society pretax profit falls 16 pct

2 Min Read

Feb 10 (Reuters) - Nationwide Building Society

* Statutory profit before tax in nine months is 946 million pounds, a decrease of 16 pct on same period last year.

* Gross mortgage lending has increased in nine months to Dec 31 by 11.0 pct to 26.2 billion pounds, a market share of 14.3 pct

* Our capital and liquidity ratios remain strong, underpinning security we provide to all our members

* Gross mortgage lending for nine months to 31 December 2016 was up 11.0 pct on comparative period at 26.2 billion pounds

* Group's capital position has remained strong, with consolidated CET1 and leverage ratios as at 31 December 2016 of 24.4 pct and 4.0 pct respectively

* Our expectation is that UK economic growth will slow over next two years.

* Longer term impacts of EU referendum vote on UK economy will depend on a range of factors, not least time it takes to reach trading agreements with EU and non-EU economies and effectiveness of other actions for improving UK trade prospects.

* Sustained low interest rate environment combined with competition in core markets will continue to put pressure on margins and profit.

* Our positive trading performance, strong capital position, high quality balance sheet and lead on customer satisfaction mean we are well placed to deliver long term value to our members Source text for Eikon: Further company coverage: (Reporting By Rachel Armstrong)

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