Darlington sees positive results despite coronavirus

Jake Carter

March 30, 2020

Darlington Building Society has seen continued positive results, despite the impact of coronavirus.

Overall, its total number of members increased to 86,000.

In addition, savings balances reached £52m, and the building society’s total assets increased by 9% to £665.8m and £138m was lent to help people purchase or refinance their homes, including £9m assisting first time buyers.

However, the firm noted a decline in its year-on-year profits, which it put down to an increase in the average rate paid to its saving members and further investment in the long-term future of the society.

Andrew Craddock, chief executive of Darlington Building Society, said: “With the growth in our mortgages, deposits and reserves, we continue to go from strength to strength.

“Our success as a society has been built on our commitment to our members, being both our owners and our customers.

“We remain committed to support our savers both young and old, whilst helping our borrowers buy or re-mortgage their home.

“We are passionate about helping those in and around our community, and I believe that our financial strength provides Members with confidence in our society in uncertain times.”

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