Principality Building Society saw a £99m net growth in its mortgage book in the first half (H1) of 2022.
The growth comes on the back of more than £2.5bn in applications having been processed through Principality’s new mortgage platform.
Overall the Principality saw underlying profit reach £26.1m (H1 2021: £28.6m), whilst profit before tax increased to £31m (H1 2021: £33.1m).
Julie-Ann Haines (pictured), CEO at Principality Building Society, said: “As a building society owned by our members, we are not under pressure to meet the short-term needs of shareholders.
“Our aim is to focus on the long-term and invest to support the future growth of the Society and support our members.
“Our financial performance was strong in the first six months, with £99m net growth in our mortgage book as we helped almost 2,000 first-time buyers get a home.
“So members can be assured we have a strong balance sheet and profitability to reinvest in the business for their benefit, to help us create better homes for members, help members to financially secure their futures, as well as trying to create a fairer society for our communities.”
