Profits up at The West Brom
The West Brom has increased pre-tax profits by 19% as it continues to rebalance its lending portfolio into areas where it is more confident of sustainable returns.
The building society, which is celebrating its 170th anniversary this year, slimmed down its non-core commercial loan book with increasing its owner-occupied balances.
Chief executive Jonathan Westhoff said: "The year on year reduction in overall lending volumes reflects a strategic decision to focus only on those market segments where sustainable returns can be evide... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...