Nationwide nearly doubles CEO’s pay packet to £4.7m despite bonus row

Debbie Crosbie receives 3.2m in bonuses after mutual building society's takeover of Virgin Money

Nationwide building society has nearly doubled the pay packet of its chief executive, Debbie Crosbie, a year after the board pushed through a controversial bonus scheme for its top boss.

The mutual, which is owned by its members, released its annual report on Monday, showing Crosbie was handed 3.2m in bonuses - a combination of payouts for annual and longer-term performance - up from 1.1m a year earlier.

It pushed her overall pay packet to 4.7m for the year to March 2026, marking an 88% jump on the near-2.5m she earned for the previous year.

Meanwhile, eligible staff within the wider 26,890-strong workforce will see their pay rise by an average of 3.8% from 1 July. These changes reflect a significant investment in our people, recognising the contribution and commitment of those at the heart of serving our customers and delivering our strategy," Nationwide said. Crosbie's 1.2m annual salary was increased a further 2.9% in April this year.