Full Year 2023 Nationwide Building Society Earnings Call Transcript
Good morning, everyone, and welcome to Nationwide Building Society's Full Year Results Call. I'm joined this morning by Chris Rhodes, our Chief Financial Officer; Muir Mathieson, our Deputy Chief Financial Officer and Treasurer; Robert -- our Chief Economist, Robert Gardner; and I'm Debbie Crosbie, the Chief Executive.
We are making strong progress against our strategy, despite the economic challenges and market pressures that have impacted our costs. Our financial performance is the strongest on record with higher profits related mainly to increases in the bank base rate. This performance has allowed us to support members in new ways as we faced into the cost-of-living crisis. We invested GBP 100 million into practical support, including an online hub, a dedicated cost of living telephone hotline, and we donated an additional GBP 1 million to debt organizations and charities. We also launched a cash-back offer on supermarket shopping, which delivered benefit directly to almost 5 million of our members.
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