Despite acknowledging two fines from the regulator for 'previously letting customers down', the Chief Executive Chris Pilling noted the group had taken swift and decisive action to reimburse those affected.
Gross mortgage lending totalled £7.6bn and net lending reached £2.6bn while core operating profit grew to £178.8m. The Group also retained its strong capital position, increasing its total capital ratio to 16.1%.
The Group reported record gross lending of £7.6bn (13% increase on 2013: £6.8bn) and record net lending of £2.6bn (32% increase on 2013: £2.0bn). It provided support for a record 8,200 first-time buyers, equating to 37% of all Group house purchase mortgages, including through 5% deposit mortgages
Chris Pilling, Yorkshire Building Society Group’s Chief Executive, said:
“I am delighted to report another set of strong financial results for the Group.
“These results reflect our qualities as a modern mutual. We offer customers long-term value and excellent service while strengthening our financial security and ability to invest for the future.
“Our passion for customers is reflected in the 34,800 mortgages we completed during the year - including a record 8,200 to first-time buyers - and the competitive return we provided savers which beat the market average.
“I am proud that in our 150th anniversary year we continued to deliver on the fundamental aims of our founding fathers – to help people save for the future and buy their own home. Further investment in our technology, digital capabilities and branch and agency network is designed to help us continue to deliver long-term value for our customers over the next 150 years too."
