Nationwide chairman says 'all options' being considered for future

The chairman of Irish Nationwide Building Society (INBS) has said a number of options are being considered for the society's future, including winding it down.

Speaking at the society's AGM, Daniel Kitchen said it was inevitable to assume the society faces further losses as its commercial loans are transferred to NAMA, with the bonds received by NAMA to be used either to repay existing borrowings or to bolster the society’s liquidity.