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Leeds Building Society attracts over 42,000 new savers

Martin Greenland | 16:59 Wednesday 8th August 2018

Leeds Building Society has attracted more than 42,000 new savers during H1 2018, increasing retail savings balances to £13.9bn.

The building society provided £1.8bn in new residential mortgage lending during the same period, down from £2.1bn for the six months to June 2017.

Meanwhile, membership grew to more than 809,000 – the highest in its history – up from the 778,000 reported in June 2017.

Peter Hill, CEO at Leeds Building Society (pictured above), has also announced his plans to retire in February 2019.

Subject to regulatory approval, Peter will handover to Richard Fearon, the society’s current chief commercial officer.

“Our strategy to deliver sustainable growth and service improvements is focused on the long-term benefits to all our members, whether borrowers or savers,” said Peter.

“We believe our success in attracting thousands more members is testament to this approach. 

“In a competitive market and uncertain economic climate, they see the value in our products, services and our status as a member-owned business which is here for them for life.

“I’m delighted Richard was chosen by the board as my successor – he has really demonstrated his value to the society since joining the executive team and has the experience and capability to lead the business through the next stage of its development.”

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