The Cambridge Financial Results
Growth is the key to The Cambridge Building Society's Continuing Success
A buoyant Cambridge Building Society has just announced another positive set of financial results and is going public with many other exciting announcements over the coming weeks
Chief Executive Stephen Mitcham commented: “I am very pleased with the Society’s overall financial performance. We have made a net profit of £1m and have grown the business by 4%.
“I am particularly pleased to report that we increased our lending to local people by almost 60%. This good news story continues when you note that this lending remains primarily financed by retail savings and through the year we were able to increase our savings balances by £23m.
“Our priority for 2010 has been to refresh the organisation and to continue to deliver a bright and positive future for the Society and its customers. “We are well placed to provide a professional and trusted service through our branch network and to expand our offering through other channels such as our Customer Contact Centre and the forthcoming online service.
“Our message in 2011 is that the Society is most definitely open for business and looking to meet the financial needs of an expanding range of customers. I would encourage people to find out what we are doing and how they can benefit from becoming a customer.”
Notes to Editors
- Established in 1850, The Cambridge is an independent, mutual organisation with over
130,000 members and assets of almost £900 million.
- The Society’s head office is based in the centre of Cambridge supporting a network of 19
branches located in the majority of nearby towns and surrounding villages within a 30-mile radius of Cambridge.
By The Cambridge on Thursday 24th March 2011