Savings accounts provider Coventry Building Society 'set for growth'

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Savings accounts provider Coventry Building Society 'set for growth'

Thu 23rd Sep 2010

Coventry Building Society is in a strong financial position and is set for further growth in the future, it has been suggested by a senior source at the organisation.

Rob Green, finance director at the company, made his comments after the firm revealed it had secured £400 million in funding from the financial markets over a 12-year period.

He described how the business's retail acquisition strategy has helped put it in such a strong position in the market.

"Our strong asset quality and ongoing profitability clearly tells investors that Coventry remains a safe bet for the long term," said Mr Green.

In his opinion, it is something to celebrate that the financial markets view Coventry Building Society - the third largest organisation of its kind in the UK - so favourably.

This month, the company completed its merger with Stroud & Swindon Building Society, with the two organisations holding assets at a combined value of £21.1 billion.

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