Yorkshire Building Society profit tumbles as margins fall Banking Profit took a tumble at Yorkshire Building Society, as declining interest rates tightened the firm’s interest margins. The building society booked a £385.2m profit in 2024, compared to the £453.7m pocketed in 2023. The decline was largely due to net interest income falling £49.5m year-on-year, as increased pressure on mortgage and saving books boosted reductions. [...]
Yorkshire Building Society sees profit fall as rate tailwind eases Banking Profit fell at Yorkshire Building Society as margins in the mortgage market were compressed by the plateau in interest rates. In the first six months of the year, the building society’s pretax profit fell to £158.1m from £180.6m in the same period last year. The fall in profit was largely due to lower net interest [...]
Takeover bids, millionaire CEOs and angry members: Building societies are looking a lot like the big banks Banking Runaway profits, big-ticket acquisitions and bumper executive pay rises, Britain's building societies are starting to look a lot like banks.
Profit falls at Yorkshire Building Society but lender has record demand for savings products February 29, 2024 A number of lenders have been the beneficiaries of poor savings rates on offer at the high street banks and Yorkshire Building Society reported that a record 693,000 savings accounts were opened last year, up from 537,000 in 2022.