Bath Building Society has announced that its annual results are at record levels again for 2014, with their assets rising by 2.5% to £279.4m, from £272.5m the previous year.
It showed a 14.3% increase in its reserves from £21m to £24m year on year, and pre-tax profits increased by 37.4% to £3.8m in 2014 (2013: £2.8m).
The Society’s mortgage book has increased to a record high of £218.9m (2013: 210.2m) with gross mortgage lending at £37.4m.
Dick Jenkins, Chief Executive, said: “The market remains stacked against savers although the Government has given them a break with promised tax cuts in the recent budget.
“The Society continues to be committed to offering its best rates to existing savers.
“The mortgage business has continued to see the benefit of its specialist positioning which has allowed it to build its reserves through increased levels of profitability without increasing its risk profile.
“Our Mortgage book has grown by 4.1% in 2014 to a record level of £218.9m. This growth has largely been achieved through a focus on specialist segments of the market, such as first time buyers and people looking for holiday let mortgages.
“We have generated real interest through our innovative approach to lending to this group and our commitment to helping people in Bath and further afield to buy homes.”
