It said that the mortgage market review, which was effective from April 2014, has "impacted customer behaviour" and "led to a period of adjustment for the industry".
Graham Beale, chief executive, said: "Following on from a robust financial performance last year, our first quarter has delivered another strong set of results.
"As a result, we have continued to strengthen our capital position with our CET1 ratio now standing at 16.3pc and our leverage ratio increasing to 3.7pc.
"Nationwide has continued to help members to save, buy their own homes and manage their money in a way that suits their needs. As a result, member deposits increased by £1.5bn, we grew our share of current accounts to 6.4pc and we supported the housing market, helping over 23,000 people to buy their home, with gross mortgage lending of £5.8bn."
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