Yorkshire BS celebrates 150 years

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Yorkshire Building Society reported “a very strong” first half performance for 2014, increasing new lending by 50 per cent which provided a fifth of new mortgages in the UK over the first six months of the year.

The society, the UK’s second biggest mutual, said it created almost 200 new jobs in its 150th anniversary year.

Core operating profit rose 30 per cent to £107.5m and pre-tax profit leapt 71 per cent to £117.1m.

Gross new lending rose 50 per cent to £3.7bn.

Chris Pilling, Yorkshire Building Society​‘s ​c​hief ​e​xecutive, said:​ “​These exceptional results reflect our ongoing success as a business which proudly puts mutual values at its core.

​“​Our 150th anniversary has been a terrific opportunity for everyone associated with the ​g​roup – colleagues and customers alike – to reflect on how we have maintained our fundamental purpose at the same time as growing as an organisation.​“​

​The society completed more than 16,000 mortgages and opened more than 100,000 savings accounts at a time of historically low interest rates.

Mr Pilling said: “It was fitting that we marked our ‘sesquicentennial’ by becoming an official supporter of the Tour De France’s Grand Départ in Yorkshire earlier this month. It was a wonderful occasion for the region and one which helped to significantly raise the group’s profile, with millions lining the route and billions watching on television.

​“​Being involved in something as big as the Grand Départ reflects the ambition and size of the business we have become, which is one reason we unveiled new branding for the ​g​roup as part of our ongoing investment programme.

​“​Fresh logos have been created across all brands to emphasise that we form a single, cohesive and substantial organisation which plays a significant part in people’s lives across the whole of the UK.​“​