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Coventry Building Society announces strong results for 2017

Coventry Building Society, the UK’s second largest, has today announced its latest set of results for 2017.

Highlights included strong growth in savings and mortgages, low costs, competitive savings rates and exceptional customer service.

Commenting, Mark Parsons, Coventry Building Society Chief Executive said: “Coventry Building Society delivered a strong and balanced performance in 2017, maintaining our record of savings and mortgage growth, excellent member service and a robust financial position.

“We are well capitalised and efficient, retaining enough profit to support our capital strength, and we are using our financial strength to invest in meeting the expectations of current and future members. Critically our performance has members at its heart. To be successful we must provide clear benefits to our members, not only in terms of the long-term value of savings and mortgages, but also in the quality of service and support we provide.

“Our low cost operating model means that we will be able to continue to offer attractive long term value to savings and mortgage members. The combination of growth, low risks and low costs is the foundation of our financial strength and in 2017 we continued to deliver sufficient profits to support our capital position.

“At its heart, Coventry Building Society is a people business, with a set of values that guides all of its decision making. Whilst our 2017 performance is notable for our continued growth and financial strength, it also demonstrates the strength of a business model built on doing the right things for our members.”

For more information, go to our financial results.

23 February 2018