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Nationwide Building Society SWOT & PESTLE Analysis

ID : 52131353| Apr 2019| 15 pages

COMPANY PROFILE -Nationwide Building Society

Business Sector :Banking and Financial Services (BFSI)

Operating Geography :Europe, United Kingdom, Global

About Nationwide Building Society :

Nationwide Building Society is a building society company offering current account, mortgage, savings and other personal finance services. It was established in 1846 and is headquartered in Swindon, United Kingdom. The Company's business is segregated into Retail, Commercial and Head office functions. Retail operations include residential lending, specialist residential lending, consumer banking, retail funding (savings products) and commercial deposits. The Commercial segment oversees the commercial lending business, including commercial real estate lending, lending to housing associations and project finance lending. The Company offers a range of financial service products, including, savings, mortgages, current accounts, credit cards, investments and loans apart from personal loans, car loans, car insurance, home insurance and life insurance. It offers current accounts, such as FlexAccount, FlexDirect and FlexPlus. It also offers Internet banking, mobile banking and telephone banking. The Group has over 18000 employees globally in over 700 branches with 15 million members as of 2018. Nationwide Syndications Limited, The Mortgage Works (UK) plc, UCB Home Loans Corporation Limited, Derbyshire Home Loans Limited & E-MEX Home Funding Limited are its main subsidiaries.
Nationwide’s USP or unique selling proposition is in being the world’s largest building society holding a dominant market position in mortgage lending & robust branch network. Nationwide is one of the country's leading mortgage lenders and the second largest provider of household savings and mortgages in the UK. This justifies its tagline “On Your Side”. It is a member focussed business which acts transparently and withholds its core ethical values in all business activities. Their defining difference is that they are owned by their members. Their purpose reads “Our purpose is building society, nationwide”.

Nationwide Building Society Revenue :


Underlying income:
£3,132 million – FY ending 4th April 2018
£3,285 million – FY ending 4th April 2017
£ 3372 million – FY ending 4th April 2016

Competitive Analysis of Nationwide Building Society

SWOT
PESTLE
The SWOT analysis for Nationwide Building Society is presented below:
Strengths
Weaknesses
1. Good credit rating for both long term and short term loans
2. Preferred choice for first time home buyers.
3. Exponential increase in profits and right positioning in market.
4. World’s largest building society
1. Controversies over executive pay during financial crisis in the firm
2. High competition from leading banks
Opportunities
Threats
1. M&A with smaller companies will increase its presence
2. High growth market and rational political scenario
1. Unstable financial conditions due to Euro zone crisis
2. Unfavorable market conditions and strict government policies
3. Adverse impact of Brexit
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Nationwide Building Society

 

Strength

1. Enjoys good credit rating for both long term and short-term loans: Long term credit rating of Nationwide, as on Feb 2018, was A with Standard & Poor’s, Aa3 with Moody’s and A+ with Fitch Ratings, while short term ratings are A1, P1 & F1 respectively. Moody upgraded their outlook on the group from negative to stable. Fitch upgraded Nationwide’s long term deposits and senior unsecured debt from A to A+ in February 2017. As of now the senior unsecured creditors are protected against Society’s failure. Good ratings reflect their capital strengths which includes high-quality liquidity buffer, diverse funding sources and funding arrangements in case of any contingency like financial or economic stress. High and stable rating by different sources shows that the group has adequate liquid assets to fulfil cash outflows in case of market undulations. This increases contractual inflows as investor confidence is built and increases its revenue.

2. Preferred choice for customers in UK: Nationwide is the world's largest building society and also enjoys leadership position as a savings providers and a top 3 provider of mortgages in the United Kingdom. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million happy customers. The Group is most preferred as it delivers real value to its members. This has led to the highest number of current account openings in 2017 which showed growth from 590,000 in 2016 to 795,000 in 2017 as it is the top choice for current accounts. It has also become UK’s most trusted brand as it maintains its reputation of excellent services. The group benefits from the flexible services it offers like FlexPlus, Current Account Switch Service which allows shift to Nationwide’s current account from other banks, complete personal banking services, personal loans & home insurance. they cater to large consumer base which increases revenue and provides long term sustainable growth. This has increased its revenue in retail segment to £785 million in 2017.

3. Exponential increase in profits and right positioning in market: The underlying profit of the firm increased from £279 million in 2012 to £1022 million in 2018, showing a steep rise in the profits. Profits increase investment in business for new and better service propositions, support expansion of branches, achieve additional business volumes and new technology to ensure better accessibility of its products and service. The surplus is shared with its loyal customers through higher rates and loyalty rewards which helps in customer retention. It also increases long term value, reduces costs by improving operational efficiency and improves profitability. More than $430 million were contributed to non-profit organizations by the Nationwide Foundations since 2000. Fiscal 2017 proved to be a record year with $46 billion in total sales, $28 billion in operating revenue, $562 million in net operating income.

The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

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Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

SWOT & PESTLE (combined)
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Nationwide Building Society Analysis Report

1. Corporate Information- http://www.nationwide.co.uk/about/corporate-information/our-history

2. Annual Report-http://www.nationwide.co.uk/~/media/MainSite/documents/about/corporate-information/results-and-accounts/annual-report-and-accounts-2016.pdf

3. Executive Pay-http://www.huffingtonpost.co.uk/asa-cusack/executive-pay_b_3495021.html

4. Brexit impact on house prices- http://www.independent.co.uk/news/business/news/brexit-impact-on-house-prices-uncertain-nationwide-house-prices-hit-record-levels-a7159696.html

Copyrights and Disclaimer

Panasonic SWOT and PESTLE analysis has been conducted by Deepanker Pandey and reviewed by senior analysts from Barakaat Consulting.

Copyright of Panasonic SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Nationwide Building Society SWOT & PESTLE Analysis
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