Coventry Building Society sees huge profits rise

Monday 04 March 2013 Updated: 05/03 12:59

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Buy photos » Coventry Building Society. Picture by Jon Mullis 32.011.025.leam.jm1 (www.buyphotos247.com)

PROFITS at Coventry Building Society rose by 50 per cent over the past year.

Financial figures published this week show pre-tax profits of £88.5million, new mortgage lending of £5.1billion and an increase in customer's savings balances by £1.1billion to £20.1billion.

Chief executive David Stewart said: "Coventry is now the only major high street bank or building society not to have been downgraded by any rating agency over the last three years."

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