NATIONWIDE has revealed its 2014/15 full year results - and announced chief executive, Graham Beale, is to retire next year.

Mr Beale will retire at or around the date of the AGM in July 2016 and the company, based at Pipers Way, will now begin the process to identify a successor.

Meanwhile, the figures revealed:
Underlying profit up 32 per cent at £1.216 billion (2014: £924 million)
Statutory profit up 54 per cent at £1.044 billion (2014: £677 million)
Robust levels of capital: CET1 ratio up to 19.8 per cent (2014: 14.5 per cent) and Leverage Ratio up to 4.1 per cent (2014: 3.4 per cent)
First for customer service for three-and-a-half years
Became second largest mortgage provider; helped almost 46,000 first time buyers
Loyalty Saver balances increased over the year by £3.6 billion and now stand at £20.7 billion
Opened 469,000 new current accounts

And for Swindon, the firm said:
The Croft branch was the first branch to trial the new branch layout and one of the first to receive the pioneering new technology, Nationwide Now, which connects customers in branch to consultants based elsewhere 
As a major employer in the region, Nationwide is looking to fill around 100 vacancies in and around Swindon across a range of roles
Employees raised more than £330,000 for local charities during the year with 16,800 hours of volunteering
People in Swindon opened 20,500 accounts in 2014/15. One in three residents now have a savings account with Nationwide

As part of its commitment to invest profits back into the society, the firm also announced it will invest £500 million in its branches over the next five years.

Mr Beale said: “This is one of the strongest sets of results we have ever announced, demonstrating that, yet again, it is possible to build a successful business by doing the right thing.

"We have reached a level of profitability that will allow us to continue to invest in our business to improve our members’ experience and also to strengthen our balance sheet.  This makes Nationwide one of the safest places on the high street for our members’ money.

“We think that reports of the death of the branch have been greatly exaggerated.  Our members are telling us that they still want to be able to speak to someone face to face and that is why we are making a major investment in our branch network over the next five years. 

"We are transforming the look and feel of our branches so that they provide the right space and environment for members to discuss their financial affairs with our consultants, as well as providing the latest technology whenever they want to serve themselves.

“Nationwide is in great shape and is demonstrating how a mutual building society can make a real and refreshing difference in the financial services sector."

And he said the strength of the firm meant it was the right time to hand over control.

"Succession of leadership is best dealt with from a position of strength and hence the time has come for the society to identify and appoint its next chief executive," he added.

"In the meantime, there is lots to do and there are exciting opportunities ahead.”

Nationwide Chairman, Geoffrey Howe, said: “I would like to thank Graham for his enormous contribution to the success of this organisation.

"He has led the society safely through the worst financial crisis in living memory and at the same time created a truly modern mutual, with the needs of our members at the forefront of all that we do.

"He has also positioned the organisation for a digital world – ready to embrace the future and continue to innovate for the benefit of our members.

"This is the right time to plan for the future and in the meantime Graham will continue to lead the Society and will remain, as always, focused on the job in hand.”