Nottingham Building Society sees profits soar

Nottingham Building Society has seen profits rise sharply on the back of a surge in new lending.

The Society saw gross new lending rise to £1.21bn in 2024 – up 37% on 2023’s figure, while profit before tax rose to £13.9m – up from £8.3m.

Sue Hayes, chief executive officer, said: “2024 was a highly successful year for Nottingham Building Society – and the Society is now its largest in asset terms than at any time in its 175-year history – we have reached a record level of £4.2bn in mortgage assets and £5.2bn in total assets.

“I am proud of the results we are sharing and would like to thank our members for their continued trust and support to the Society. In 2025, the sector celebrates 250 years of building societies and we are more committed than ever to the mutual values that we know are fundamentally important and highly valued by our members.”

“Our strong set of results for 2024 are driven by a 37% increase in gross new mortgage lending, an uplift in new business margins and continued strong customer service feedback.”