Profits up for fixed rate bonds provider Leeds Building Society

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Profits up for fixed rate bonds provider Leeds Building Society

Wed 11th Aug 2010

Leeds Building Society has announced a ten per cent increase in pre-tax profits for the first half of 2010.

The provider of fixed rate bonds revealed that its profits for the six months to June 30th reached £18 million, while total savings balances rose to a record level of £7 billion.

In addition, the building society attracted 34,000 new members during the six-month period, meaning its total membership is now in excess of 688,000.

Commenting on the latest figures, chief executive Ian Ward said: "Our highly efficient, successful, sustainable business model continues to deliver good results."

He added that the financial organisation is "in a very good position to deal with the challenging economic outlook for the remainder of 2010 and beyond".

Leeds Building Society made its annual donation to Marie Curie Cancer Care last week, with BBC presenter Christa Ackroyd receiving the £11,000 cheque on behalf of the charity at the head office branch.

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