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Business & Economy

Darlington Building Society celebrates as profit rise complements award success

A mutual is celebrating “a successful year” after a strong financial performance complemented an industry honour.

Darlington Building Society recorded a net post-tax profit of £1.56 million in the 12 months to December, with total assets growing to more than £611 million and average customer satisfaction scores standing at 97.7 per cent.

The results come after the building society was named best specialist mortgage provider at the British Bank Awards, invested in its network of branches – which operate across County Durham, Teesside and North Yorkshire – and improved its online presence.

Chairman Jack Cullen said: “2018 has been another successful year for the society, our members, our colleagues and our community.

“There were a number of real highlights throughout the year and the delivery of our online platform marked a real step forward in improving the services to our members.

“In addition, we commenced a programme of investment in our branch network, which will continue through 2019.

“As well as the success at the British Bank Awards, we claimed seven other awards during 2018, which demonstrates a real strength across the business.”

Mr Cullen added the building society, which has a commitment to share five per cent of post-tax net profits in the area it serves, shared more than £80,000 with 19,060 people and 88 organisations throughout the year.