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Birmingham Post

Business

Coreena Ford

Darlington Building Society hails record results as profits top £5m

Darlington Building Society has hailed the strongest performance in its 167-year history against the backdrop of global economic turmoil.

The society delivered a record pre-tax profit of £5m for 2022, up from the previous year’s £3.2m, along with its highest ever total assets of £833m, up from £752m. It said the growth was underpinned by record mortgage lending growth of £97m and growth in savings balances of £69m.

It said it had also reinvested significantly in the future of the business, while helping local communities, rewarding members and supporting staff during the cost-of-living crisis, resulting in operating profit of £2.2m.

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