The chief executive of Newcastle Building Society has hailed 2021 as a “year of achievement” for the organisation, as it chalked up a large rise in profits.
Based at Cobalt Business Park, North Tyneside, since moving out of its former head office in Newcastle city centre, the organisation is the North East’s largest building society with assets of £4.9bn and 30 branches across the North East, Cumbria and North Yorkshire.
The society has now published full year results covering 2021, in which it saw pre-tax profit for the year rocket from £1.4m to £29.1m, while operating profit before impairments and provisions increased significantly by £13.6m to £28.5m.
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