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Mortgage book up 3.7% at the Nottingham

Total assets at record level

by Kevin Rose
27 July 2018
Countrywide expects house sales to be down in 2017
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The Nottingham Building Society has reported that gross lending in the six months to 30 June was £465 million as the mortgage book grew by 3.7%.

Meanwhile, branch savings balances increased by 7.4% over the period.

Total assets have grown to a new milestone of nearly £4 billion.

More than 13,000 new members joined the society in the six months as its branch network expanded to 67 following the addition of seven new branches at the end of 2017.

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Group profit before tax for the period was £6 million compared with £7.6 million in the previous period (to June 2017).

David Marlow, chief executive of The Nottingham, said: “Cementing our relevance and appeal to members both now and in the future, has been a key focus throughout the first half.

“In the face of increasingly rapid societal change we are investing heavily to develop our digital capabilities and longer term aspiration to deliver a true omni-channel experience where our members have the control and convenience of choosing how and when they interact with us.

“Underpinned by our strategic pillars of growing and rewarding membership; delivering strength in financial adequacy; striving to deliver first class service across our operations; and continuing to support our people and communities, our mid-year results are a positive reflection of this strategy.

“I’m particularly proud that our Net Promotor Score remains consistently high at 79%. Coupled with recent FCA recognition for our best in class customer complaint metrics is further evidence that we are building strong relationships with our members and delivering exceptional levels of service so warm thanks to all our people who have made this possible.”

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