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Saturday, July 13, 2024

Marsden Building Society hits financial milestone as it reaches half a billion pounds

Marsden Building Society has today announced a record performance in 2018 reaching a historic milestone increasing the size of the business to over half a billion pounds for the first time in the Society’s history (assets increasing by 8.8% to £514.2m).

The Society, as it has for 159 years operates for the benefits of members now and remains resilient for future generations and has seen strong performance across their savings and mortgage business in 2018. Marsden remains in an excellent financial position with strong capital ratios and high quality liquidity. Introducing more lending solutions to the market has diversified the Marsden’s lending portfolio and supported a growth in mortgage volumes of 9.7% to £417.8m and helped over 1,232 customers buy their own homes. In addition to this, the Society also supported 1,818 customers find a safe home for their savings and as a result saw their total share balances up by 12.3% to £433.0m.

Rob Pheasey, Chief Executive of the Marsden, said: “It has been another busy and successful year: a year of growth, a year of investment and a year of making the Society stronger. I am immensely proud of what the Marsden team has achieved. Together, we’ve delivered a strong year of performance, both financially and with the organisational capability to support our future services. 2019 will be an equally busy period for the Marsden, our continued success dependent upon the commitment and enthusiasm we bring as a team.”

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