Bath Building Society Announces Strong Financial Results – 2019
Posted on 24th March 2020
Bath Building Society has announced its financial results for 2019. After another successful year, it expanded its new lending to £43.3m which helped grow its mortgage book to £247.7m (2018: 245.7m).
Overall, the Society’s total assets rose to £331.9m, an increase of 2.4% on the previous year.
Profit on ordinary activities before tax was £2.7m (2018: £3.2m) which delivered a 6% increase in its reserves.
CEO, Kevin Gray, said:
“With the balances of our mortgages, deposits and reserves all being at record levels, we continue to go from strength to strength. Our success comes as a result of the Society delivering on its social purpose, that being to change our Members’ lives by giving them security through saving and by facilitating their dreams of home ownership. The Society’s financial strength gives it more commercial options in the good times and helps to protect its Members in the bad times.”