Coventry Building Society exceeds mortgage market growth

Jessica Nangle

February 28, 2020

Coventry Building Society has unveiled its annual results for 2019 which showed mortgage growth beating market performance for the 15th consecutive year.

Mortgage balances grew by 8% and savings balances were up 9% last year, compared with market growth of 3% and 4% respectively.

Mortgage assets increased by £3.0bn to £42.2bn which is more than twice the rate of the market.

The society now has more than two million members and total assets of £49.5bn.

In 2019, 82% of the team members at the Coventry were actively involved in volunteering, fundraising or raising awareness for local charities and community groups.

Mark Parsons, chief executive at Coventry Building Society, said: “We are a growth business and have continued to outpace a highly competitive market.

“I want to thank our intermediary partners who have played a big part in the strong performance we’ve announced today.

“We’re particularly pleased that our Net Promoter Score, as rated by brokers, was a very high +85, reflecting the energy and commitment we put into our mortgage service and proposition.

“Our continued investment in this area and absolute focus on the needs of our intermediary partners is a proven combination that will help sustain our mortgage growth into the future.”

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