The Nationwide has reported a 155% leap in half-year underlying profits, citing more lending and a rush of new customers coming to it from high street rivals.
Dissatisfaction with the so-called big four high street banks has helped drive new customers to the Nationwide.
A total of 214,000 new current accounts were opened in the six months to the end of September, up 16% on the same period last year.
Nationwide now has 5.3 million current accounts and its market share of main standard and packaged accounts is now at an all-time high of 6%.
It is Britain's biggest customer-owned lender and the the third biggest mortgage lender.
Gross mortgage lending at the society rose 37%, to £14bn.
The building society said it made an underlying profit of £332m in the first-half, up from £130m in 2012.
Executive director Chris Rhodes said: "These results show that Nationwide continues to be the main alternative to the big banks.
"The combination of competitive products combined with a strong reputation for customer service is attracting more than 1,100 customers a day to the society."
The Nationwide's performance has been boosted an improvement in its net interest margin - the difference between the rate it offers to savers and the rate it charges borrowers.
As a building society the Nationwide seeks to serve its members' interest while generating profit to expand its business.
It says profit is then utilised to offer higher rates for savers and lower rates for borrowers.
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