Monmouthshire’s mortgage lending up 6pc
And the society reported growth of 8.1% and a profit after tax of £3.1m with an increase in assets under management from £819m to £885m.
Chief executive Andrew Lewis said: “Our latest set of results demonstrates that Monmouthshire Building Society has experienced another exceptional year of business despite the ongoing challenges that we, like all financial institutions, continue to face.
“We remain as strong and secure as ever and our continued growth is a clear indication that customers continue to respond to our excellent customer service and competitive and innovative products”
Lewis said the society takes pride in supporting first-time buyers to achieve their dreams of home ownership.
The Society has continued to invest in its branch network with the relocation of its Caldicot branch to an improved retail location. A new agency office was also opened in Caerphilly and the Barry agency was relocated under new management, to a more centralised retail position.
Chairman Robert Williams said: “Against a backdrop of continuing economic turbulence the society’s continued growth represents an excellent performance particularly when compared against that of the competition.
“The key to this sustained growth is the society’s ability to consistently meet the varied financial needs of our loyal customer base”.
He added: “Our customers continue to value the expansion and development of our retail network and the services they are able to access from it.
“The society also continues to experience unprecedented growth in the levels of business we are able to generate and new customers we can attract online through our website.”