Nationwide Building Society has revealed a drop in its annual profits after taking over Virgin Money and as it announced plans to hand out around £440 million to its members next month.The building society made a pre-tax profit of £1.49 billion for the year to the end of March, down from the £2.3 billion it made last year.Nationwide said last year’s earnings had been bolstered by a one-off gain from the acquisition of Virgin Money, which it is currently integrating into the group.It also takes into account the latest “Fairer Share” payment, the fourth since the profit-sharing initiative began, with around 4.4 million members eligible for £100 in June.Total mortgage lending, minus repayments, fell to £10.3 billion from £15.9 billion the prior year, although remained market leading, according to the group.Nationwide said March 2025, which was in the previous financial year, saw a rush of home buyers locking in deals ahead of changes to stamp duty relief from April.A strong season for Isas and around one million new personal current account openings helped lift total customer deposits by £10.1 billion in the latest year.