|Bid||150.00 x 0|
|Ask||155.00 x 0|
|Day's Range||154.00 - 154.00|
|52 Week Range||154.00 - 16,400.00|
|Beta (3Y Monthly)||0.32|
|PE Ratio (TTM)||0.03|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Moody's Investors Service ("Moody's") has determined that certain amendments made today to Nationwide Building Society's covered bond programme will not, in and of themselves and as of this time, result in the downgrade or withdrawal of the ratings currently assigned to the covered bonds issued by Nationwide under the programme.
Britain's Nationwide Building Society reported a 15% fall in profits for the year to April 4, as intense competition in the home lending market and increased spending on digital banking services ate into its margins. The bellwether mortgage lender said its net interest margin - a closely-watched measure of underlying lender profitability - fell to 1.22%, down from 1.31% the previous year and down from 1.26% the prior quarter. Nationwide CEO Joe Garner said that the British economy had slowed but was proving robust, adding that he expected economic activity to pick up once uncertainty about Britain's departure from the European Union was resolved.
The Notes are backed by a pool of prime UK residential mortgages originated by Nationwide Building Society (("Nationwide") Aa3/P-1/Aa2 (cr)/P-1(cr)). This represents the 10th issue out of the Silverstone Master Trust structure.
Moody's issues provisional ratings in advance of the final sale of securities and the above ratings reflects Moody's preliminary credit opinions regarding the transaction only. The definitive ratings may differ from the provisional ratings. The Notes are backed by a pool of prime UK residential mortgages originated by Nationwide Building Society (Aa3/P-1/Aa2(cr)/P-1(cr)).
Britain's bellwether mortgage lender, Nationwide Building Society, reported a 21 percent fall in profits for the first nine months of the year after ramping up its investment in digital banking. It is building up its business banking capabilities and providing better and simpler digital services, Deputy Chief Executive Tony Prestedge said. It booked a 167 million pound charge for technology investment.
LONDON (AP) — With Britain just 12 weeks away from the day it is meant to leave the European Union, one thing is becoming clear — uncertainty over what Brexit will mean is hurting the economy.
Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. Historically, Nationwide Building Society (LON:NBS) has paid dividends to shareholders, Read More...
Moody's Investors Service (Moody's) today affirmed the Aa3 long-term deposit and senior unsecured debt ratings of Nationwide Building Society (Nationwide), and changed the outlooks on both instruments to negative from stable. The action reflects Moody's expected loss-given-failure for Nationwide's deposit and senior debt. Furthermore, Moody's affirmed Nationwide's Baa1 junior senior unsecured and subordinate debt ratings, the Aa2(cr) long-term Counterparty Risk Assessment, and the Aa2 long-term Counterparty Risk Ratings.
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