By Philip Aldrick, Banking Editor Published: 5:30AM GMT 03 March 2010
The third largest multitude some-more than doubled pre-tax increase from �26.4m to �56.2m last year, notwithstanding the cripplingly low seductiveness rate environment, and lengthened new credit to households when the zone as a total withdrew �7bn.
Much of the success was down to the lender"s core collateral ratio, that at 27.9pc is some-more than stand in majority rivals. As a result, it has defended an A credit rating that has authorised it to entrance the indiscriminate markets. Last year, it lifted �350m in 10-year holds the usually understanding in the zone alternative than by the far incomparable Nationwide.
Political assign rages over scapegoat of Dunfermline Building Society Dunfermline Building Society customer to be voiced Back to the destiny as bank says save prior to you steal Policy contingency concentration on a stability sure rate of income expansion Finance White Paper: Pay and BonusesBad debts rose �8.4m to �17m, reduce than majority rivals. Unlike sure alternative societies, Coventry never purchased a debt book or changed in to blurb or second assign mortgages.
Its lengthened new debt credit of �919m and grew the deposition book by �833m.
David Stewart, arch executive, said: "The Society"s strength is the capability to govern the elementary commercial operation indication but chance to increasing levels of risk."
