Nottingham Building Society has revealed a “robust financial performance against the backdrop of the challenges from the ongoing pandemic,” in results for the year ended 31 December 2021.
The Nottingham posted a pre-tax profit of £15.1m on a statutory basis, up from an £8.4m loss in the year prior, while underlying pre-tax profit grew from £400,000 to £7.4m.
Gross mortgage lending was up 13% at over £550m for 2021 resulting in total assets of £3.6bn.
David Marlow, Chief Executive, said: “Entering 2021, we had a number of key areas on which to focus our energies: the ongoing COVID-19 pandemic; the significant economic uncertainty brought about by a combination of the pandemic and Brexit; our intent to reinvent the Society for the emerging new world; continue to act as a responsible society accepting our responsibilities to stakeholders, communities and the environment; and to continue to grow membership, whilst delivering a level of financial performance that would sustain us for the future.
“Whilst the challenges of the pandemic remain, I am delighted to report good progress on the development and delivery of our strategy, as well as a return to strong financial performance providing the platform for continued investment and growth.”
