Another Good Year For Beverley Building Society
Jan 31, 2008
After a turbulent end to 2007 the Society is delighted to be able to report that its full year results show continued growth in its assets and net profits with record levels of saving and lending during 2007.
Chief Executive Phil Gray comments, ‘After the shock of the crisis at Northern Rock in September it is especially pleasing to report such a positive set of annual results. The Society remains committed to its traditional roots and this is demonstrated by the fact that the Society has no wholesale funds – money lent by the Society last year was raised completely from its savers’.
Looking ahead to 2008 the Society expects lending to be closely controlled but also that this is likely to be at lower levels than in 2008. Mr Gray added however that the Society would not change its current practice of only lending what it receives from savers – it is not intended that the Society would borrow from other banks or building societies to fund its mortgage lending.
