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Coventry posts a £75m operating profit in 2009

COVENTRY Building Society saw operating profits during 2009 climb to £75m after the UK’s third largest building society took a healthy share of the market.

The UK based building society saw its operating profits rise by four per cent from the £71.7m it posted in 2008, while it’s pre-tax profits for 2009 also reached £56.2m.

“Coventry has performed in what has undoubtedly been a very difficult environment,” said marketing director Rachel Haworth.

Gross mortgage lending for Coventry hit £2.7bn, representing 15 per cent of new lending handed out by the UK’s building societies.

Likewise, Coventry’s new mortgage lending totalled £919m in 2009, gifting the company an eight per cent share of the market. It also opened 270,000 new accounts in 2009.