May 29th 2019: Harpenden Building Society has reported a year of strong results despite a backdrop of economic uncertainties, largely as a consequence of Brexit. In another year of solid performance, profit before tax has remained strong at £1.9M.
The Society has a long history of generating good profitability which has allowed it to strengthen its capital base to support continued investment for growth.
Mortgage lending has seen particular growth. This has resulted in gross lending of £66.4m over the year increasing by 7.3% which is well above the sector average*.
Recognition has also been received for product quality and customer service with the Society winning the 2018 What Mortgage ‘Best Building Society’ Award for an unprecedented fourth year running.
Harpenden’s mortgage offering to customers benefits from the society’s personal approach. All mortgage applications are individually assessed by an expert underwriter to maximise eligibility and to ensure customers find the most appropriate mortgage for their needs. This personal service approach is particularly evident across the Society’s six branches where staff are on hand to provide one-to-one assistance.
Harpenden has strong local roots and a loyal customer base. The Society continues to invest in the community it serves, with monies donated to local good causes in the Harpenden area through its Charitable Aid Foundation and Grassroots Endowment Fund. Sarah Howe was appointed as the Society’s CEO in January and brings many years of senior level financial services management to the role, most recently as Chief Customer Officer at Saffron Building Society.
“Harpenden Building Society has had a solid financial year giving a positive outlook for our future as an independent regional Building Society. We will continue to invest in the Society, remaining focused on the delivery of products our members and customers need, combining innovation, personal service and use of the latest digital technology to do this.”
Full details of Harpenden Building Society’s annual results can be found at www.harpendenbs.co.uk/about/financial-reports.