Principality BS 2010 results
March 22nd, 2011
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Principality Building Society (principality.co.uk) has announced that in 2010 they attracted 52,000 new customers and savings balances broke the £5 billion barrier for the first time in their history, securing Principality’s place as one of the most popular and trusted brands on the high street.
Principality Building Society’s 2010 Trading Highlights:
• Profit before tax of £30.8m
• Savings balances increased by 2.1% and now at an all time high (in excess of £5bn)
• Capital ratios with a Tier 1 ratio of 13.34% (2009 12.49%)
• 52,000 new customers
• All loans fully funded by member deposits
• Acquisition of 8 agency agreements from competitors
• Cost income ratio of 48.1% (2009: 51.0%)
