‘Solid’ first half for Yorkshire Building Society Magazine

‘Solid’ first half for Yorkshire Building Society Magazine

Yorkshire Building Society has put in a “solid performance” for the first half of the year, prioritising customer service in its core mortgages and savings businesses.

Despite competitive market conditions, the Society boosted core operating profit by 35% to £84.2 million – up from £62.5 million on the same period last year.

Profit before tax had also experienced a healthy rise at £92.3 million – up from £99.9 million last year.

In the first half of the year, the Society offered borrowers some of the lowest mortgage rates in the UK market, helping more than 3,100 first-time buyers become homeowners, and continued to protect savers by offering rates which consistently beat the market average.

The Society continued to strengthen liquidity and capital positions, with liquidity securely above regulatory requirements at £5 billion (31 December 2016: £4.7 billion), total capital ratio increasing to 18.0% (31 December 2016: 17.3%) and leverage ratio rising to 5.3% (31 December 2016: 5.1%).

Continuing to strive for excellence in the service it delivers to customers, the Society achieved a Net Promoter Score® of +42, higher than the previous year and comparing favourably with the industry average of +6.

The Yorkshire retained its status as one of the UK’s most trusted financial services providers, consistently ranking in the top three for customer trust.

Chief Executive Mike Regnier said: “Our priority is to deliver long-term value for money and excellent customer service. We have strengthened our financial security through improved capital, leverage and liquidity positions and delivered a solid level of profit for a business of our size, which will be retained or reinvested in services.

“We’re focusing on the financial services which matter the most to our members – buying a home of their own and saving for their futures.”

Tags: Finance

Related posts

Leave a Reply