Lambeth Building Society ~ Banks And Building Societies In ~ Home Buyers

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PORTMAN ANNOUNCES OUTSTANDING 2006 ANNUAL RESULTS

Published by Portman Building Society on 2007-01-31

TOTAL ASSETS INCREASED BY 20%

Portman Building Society today announces its annual results for 2006, revealing an outstanding year for members, with exceptional growth in assets, profit, residential lending and savings balances.

In 2006, Portman Building Society achieved outstanding growth in assets, profits and new customers.

Key achievements:

Total assets increased by 20% to over £21 billion;
Record profit before tax of £93.7 million, £104.6 million underlying;
10th consecutive year of profit growth;
New residential lending up 18% to £5 billion;
Savings balances up 18% to over £13 billion;
Some 70,000 new customers attracted to the Society, up 20%;
Completion of the merger with Lambeth Building Society; and
Announcement of a proposed merger with Nationwide Building Society.

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Lambeth Building Society