Scottish Building Society makes steady profit in 2017

Ryan Bembridge

June 13, 2017

Scottish Building Society made a pre-tax profit of £1.27m in the year to 31 January 2017 – a slight reduction from £1.3m in 2016.

The society said this was in line with its ’5-year plan’.

It also bolstered its mortgage book by 8.8% to £311.3m in 2017.

Mark Thomson, chief executive of Scottish Building Society, said: “Our pre-tax profit of £1.27m for the past year is within the range we target to maintain financial stability, and is achieved after reducing our margin to provide loyalty benefits to both mortgage borrowers and savers.”

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