The society reports strong financial performance, with a core operating profit of £107.5m, up 30% (June 2013: £82.6m), and pre-tax profit £117.1m, up 71%.
Increased support for borrowers was shown with £3.7bn gross lending in the first six months of the year, up 50% (June 2013: £2.5bn), and net lending of £1.3bn, up 179% (June 2013: £450m)
They had a total mortgage balance of £30.8bn (December 2013: £29.5bn), with 94% of mortgages funded by savings balances and reserves (December 2013: 97%)
Chris Pilling, Yorkshire Building Society Group’s Chief Executive, said:
“These exceptional results reflect our ongoing success as a business which proudly puts mutual values at its core.
“Our 150th anniversary has been a terrific opportunity for everyone associated with the Group – colleagues and customers alike – to reflect on how we have maintained our fundamental purpose at the same time as growing as an organisation.
“Achieving good levels of profit allows us to continue to invest in the future of the Group and make our offer to customers even stronger, for example ensuring a smooth transition to comply with the new Mortgage Market Review rules with fully trained advisers available across our branch network and via our telephone contact centre.
“We have also successfully delivered in our core business areas – completing more than 16,000 mortgages, opening more than 100,000 savings accounts at a time of historically low interest rates, growing the N&P current account customer base and continuing to provide no-obligation financial advice for all across our branch network.
“We remain as committed to our members today as the founders of the Society from which we trace our roots 150 years ago. It is a proud heritage and one which we intend to enhance further in the coming years.”
