The Co-operative Bank generated a further £1.1bn of gross mortgage lending in the third quarter, taking its total lending for 2021 to £4.1bn, its latest trading report has shown.
Net residential lending stands at £2.2bn for 2021 and is equivalent to a 13% increase in mortgage balances with a strong pipeline as the Bank enters the final quarter of the year.
Nick Slape, chief executive officer at The Co-operative Bank, said: “I am delighted to report a third consecutive quarter of underlying and statutory profit.
“I am pleased to confirm that we are tracking in line with, or ahead of our guidance expectations which leaves us well-placed to deliver the refreshed strategy that I communicated in early October.
“Next year marks the Bank’s 150th anniversary and these results further demonstrate that our position on ethical and social matters is not only good for our communities, but also delivers strong commercial outcomes. I firmly believe that doing good is aligned with doing well in business.”