Profit joy for Society

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YORKSHIRE Building Society saw its operating profit increase in 2011 by 27 per cent to £163m.

Its latest results show the business increased its membership by 27 per cent and mortgage balances rose to £26.7bn.

Chief executive Chris Pilling said: “The Society’s focus throughout 2011 has been on providing good, long-term value to both our savers and borrowers. Throughout the global financial crisis, the Society has ensured that the focus has been on protecting savers as far as possible from historically low interest rates and continuing to lend to borrowers looking to get on to the property ladder, whilst demonstrating forbearance to those who are struggling with repayments.”

John Foley of PTSG

PTSG’s results are set to be in line with board’s expectations