Coventry Building Society

Coventry Building Society

December 02, 2011 02:30 ET

Coventry Building Society is Named Best Building Society

COVENTRY, UNITED KINGDOM--(Marketwire - Dec. 2, 2011) - Coventry Building Society is delighted to have been awarded Best Building Society for 2011 - 2012 by Your Mortgage, an award which has been won by Nationwide for the past 13 years.

The award is judged by a panel of over 200 mortgage intermediaries, based on the feedback they receive from consumers on products and customer service.

On presenting Coventry with this prestigious award, Paula John, editor of Your Mortgage said "Coventry Building Society has proved itself a worthy winner of the title of Best Building Society in the Your Mortgage Awards 2011/2012. The UK's third largest mutual society offers long-term, good value mortgages and savings to the 1.5m members for whose benefit it exists, coupled with superlative service."

Colin Franklin, Sales and Marketing Director at Coventry Building Society, said: "As a traditional building society we work hard to provide the best savings and mortgage products we can. We are absolutely delighted to be named Best Building Society and to have broken Nationwide's record! We aim to continue this success with more innovative and market leading products and to deliver the best service possible for our members".

Notes to Editors

Figures from CBS financial results as reported in August 2011.

Coventry Building Society is the third largest building society in the UK with assets exceeding £22.6 billion.

• In the four years since 30 June 2007:

• Total assets grew by £9.7 billion

• Mortgage balances increased by £7.8 billion

• Savings balances increased by £9.2 billion

• Cost to asset ratio of just 0.37% - the lowest reported by a UK building society.

• Core Tier 1 ratio increased to 24.1% (December 2010: 22.0%), the highest reported by a UK building society.

• No provisions were required to be raised as a result of the court ruling with respect to the sale of Payment Protection Insurance.

• The Society has had too few complaints referred to the Financial Ombudsman Service to feature in any of the complaint tables it has published.

• 2011 First half year profit before tax £45.0 million (2010 H1 £43.5 million)

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