September 08, 2011 09:01 ET

Nationwide Named as One of World's Safest Financial Institutions

LONDON, UNITED KINGDOM--(Marketwire - Sept. 8, 2011) - Global Finance magazine has published its annual ranking of the World's 50 Safest Banks and Nationwide is positioned at 41 for 2011. Only two other UK financial institutions, HSBC Holdings (at 16) and Barclays Group (at 49), made the prestigious list.

Organisations that are included in the top 50 were selected through an evaluation of long-term credit ratings – from Moody's, Standard & Poor's and Fitch – and total assets of the 500 largest banks worldwide.

Nationwide has moved up to 41 in the list from its position of 46 last year.

Graeme Hughes, Nationwide's Group Director for HR & Corporate Affairs, commented: "This is further evidence that Nationwide's business strategy of being safe, secure and dependable is successful and puts the Society in an excellent position in the market place. In addition, to be one of only three UK based financial services organisations to make the global list gives our customers added confidence that we will continue to be there for them throughout the challenging economic climate."

About Nationwide Building Society

Nationwide Building Society is the world's largest building society and a top-three provider of mortgages and savings in the UK. It is also a major provider of current accounts, credit cards and personal loans. With around 16 million members, Nationwide has a relationship with around a quarter of the UK population.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the year 2010/11, Nationwide made a strong underlying profit of £276 million – up 30% from the previous year. Its strong financial performances and prudent business model means that Nationwide is included in Global Finance magazine's Top 50 Safest Banks in the World.

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