In its interim statement, it also announced an increase in new residential mortgage lending by 22% to £1.45bn (£1.19bn to June 2014).
Pre-tax profit increased by 42% to £55.0m, and total assets increased to £12.7bn from £12.1bn at June 2014.
Leeds Building Society Chief Executive Peter Hill said:
“New residential lending was significantly above our market share, increasing by 22% to record levels, and we provided home loans to more borrowers than ever before.
“In the first half of 2015 we helped more than 4,500 First Time Buyers step on to the property ladder, accounting for 37.3% of our total lending, and we continue to be active in supporting borrowers who are not well-served by the wider market, through initiatives including shared ownership and the Government’s Help to Buy equity scheme.
“Bank Base Rate remains historically low and, while the current low interest rate environment has benefitted borrowers, it means the economic situation remains challenging for savers.
“In this difficult market, we have worked hard to deliver value to savers and paid an average of 1.82% across our savings range, 0.53%2 above the rest of the market average. In addition, all our savings accounts pay at least 0.5%, which is equivalent to today’s BBR.
“Strong growth in mortgage lending and a reduction in impairment provisions and charges have helped to deliver an increase in profit of 42% in the first half of 2015.
“In our 140th anniversary year, we are celebrating the strength and sustainability of the building society model as we follow our founders’ progressive principles to continue to innovate as we seek new ways to support and empower our members to take control of their financial futures.”
