Chief executive Debbie Crosbie told the Mail it was now 'well positioned' to repeat its previous policy of making £100 'fairer share' payments to eligible customers.

The building society completed its £2.9bn takeover of Virgin Money in October, making it the UK’s second largest mortgage and savings provider

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Nationwide has bagged a £2.3bn gain from its acquisition of Virgin Money, setting up a windfall for its members.

The building society has reported a sharp profit drop after handing out £100 to millions of members but said it had benefited from a 'strong' performance from Virgin Money

The UK's Nationwide Building Society said it would realise a bigger-than-forecast gain of £2.3 billion from its acquisition of rival Virgin Money, as it also reported a sharp drop in profits for the first half of the year.

Nationwide Building Society said it has gained £2.3 billion since buying rival bank Virgin Money, but reported a drop in profits as the benefit of higher interest rates faded and it dished out cash to members.

By Lawrence White LONDON (Reuters) -Nationwide Building Society said on Wednesday it would realise a bigger-than-expected gain of 2.3 billion pounds ($2.9 billion)from its acquisition of rival Virgin Money,

Christmas has come early for British lender Nationwide Building Society, which revealed on Wednesday it has booked a bigger-than-forecast accounting gain from its purchase of rival Virgin Money two months ago.