British lender Nationwide abandons some targets as profit slumps

LONDON (Reuters) - Britain's Nationwide Building Society's annual profit nearly halved, it said on Friday as it warned of rising loan losses due to the coronavirus pandemic and abandoned some of its member benefit targets. The bellwether mortgage lender booked a 101 million pound hit from expected credit losses and will focus for now on maintaining capital reserves after profit for the year to April 4 fell 44% to 466 million pounds.Nationwide said profit had been under pressure before the..