Coventry ups new lending by 14%

Ryan Bembridge

February 24, 2017

Coventry Building Society increased new lending by 13% to £9bn in 2016.

The society increased pre-tax profit by 11% in the process to £239m.

Mark Parsons, Coventry’s chief executive, said: “Our mortgage assets have grown more than four times faster than the rest of the market.

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“Just as importantly we’ve grown in the right way, focusing on the needs of intermediaries and their clients.

“We’re proud to have been awarded five stars by financial adviser for our service to brokers and be ranked No.1 in an independent survey of brokers by Charterhouse.”

The society also grew its savings balances by 11% to £28.1bn.

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