Nationwide Building Society unveiled a 47% fall in lending and a 60% fall in profit as chief executive Graham Beale warned of a gloomy economic outlook in to 2011.
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Building societies ‘picking up tab for banking sector failure’
The Government’s banking bail-out is distorting competition and disadvantaging building societies, who are also picking up the tab for banking failures, the UK’s only mutual competitor to the big banks has said.
