Coventry BS profits up 8%

Coventry has also boosted its share of the UK mortgage market as other lenders have restricted their own operations, with net lending reaching around three times the society’s normal market share. Overall profit before tax reached £35.5m in the six months to June 2008, up from £32.9m in the same period last year. Savings balances increased by £905m in the first half of the year, a 9% rise, while mortgages and other loans grew by £862m, a 7% increase. Groww mortgage lending grew by 1% to £1,909m, while net lending jumped 24% to £851m. Coventry says net lending has increased to around thr...