Sunday, September 19, 2021

Nottingham Building Society returns to profit

Profits are up at Nottingham Building Society after a challenging 2020.

In results for the half year ended 30 June 2021, the business said it had delivered a “resilient performance…with a return to profitability and continued investment in its member and digital propositions, which are attracting a growing number of new members.”

The firm posted a profit of £4.9m, rising from a loss of £3.8m in the same period of 2020.

David Marlow, Chief Executive of The Nottingham, commented on the results: “As we entered 2021, we were clear that great uncertainties remained, both economically and socially. Our priorities through the first half of 2021 therefore have been to steer a steady course, manage our balance sheet carefully, grow our membership and return to a sustainable level of profitability.

“We also committed to continue with our plans to reinvent the Society for the new world of digital financial services. I am very pleased to report therefore that, as we head into the second half of 2021, we have made substantial progress against all our objectives and priorities.”

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