The Nottingham has reported pre-tax profits of £7.6m, up 7%, and gross lending of £544m, up 33% on the same period last year, as well as mortgage book growth of 7.1%
Newcastle Building Society recorded pre-tax profits of £7.2m, up from £3.5m in 2016.
Gross lending to home buyers increased to £303m from £255m and net lending improved from £116m to £155m.
3 month mortgage arrears reduced to 0.39% from 0.47% compared with the same point last year.
David Marlow, Chief Executive of The Nottingham, said: “At the beginning of the year we undertook to continue to grow the Society, invest in improving our offering and service as well as look at how we could build and reward loyal membership of The Nottingham. At the half year point we are pleased to report good progress in all of these objectives. We have continued to grow the balance sheet and have delivered asset growth of 6.1% in the first six months of the year.”
Newcastle Building Society chief executive, Andrew Haigh, commented: “We’ve made some very positive progress already this year and we’re proud of the milestones we’ve already achieved, both financially, and in delivering on the contract we have with the region. This extends beyond a commitment to the fundamentals of providing a robust regional building society and branch network, but also sees us driving growth to generate career opportunities for people across the North East, investing in our communities, and building an organisation the region can be proud of.”
