Nationwide abandons move into business banking

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To be fair, can’t say I blame them.

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I may be wrong here, but I seem to recall Nationwide intended to fund their business offering using money from the RBS bailout fund. If that’s the case, did they exhaust their allocated funding and then decide “nah… can’t be bothered to continue”…?

I read they are sending the money back

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The article states that they’ve returned the money.

0.1% interest rates don’t make for profitable business banking, likely they re-evaluated that it won’t generate enough income for members to be worth doing

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That’s pretty much how their CEO has put it.

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And that’s how he should put it - members don’t want sugarcoating and nationwide has always been about shareholders (the members), not businesses