A robust set of results, active participation from Members and a clear focus on the Society’s transformational next steps were at the heart of Principality Building Society’s Annual General Meeting, held at the Marriott Hotel in Cardiff.
The event brought together Members in person, online, and via live stream from branches in Wrexham, Hereford and Swansea, giving them the opportunity to hear updates from the Society’s leadership team and vote on key matters shaping the organisation’s future, with discussion taking place around matters of importance.
Members attending the live stream events were joined by senior representatives from across the Society, including new executive committee colleagues, Tim Blackwell – Chief Financial Officer and Graeme Forrester – Chief Risk Officer, and other members of the senior leadership team.
The AGM followed a strong performance for Principality in 2025, achieved against a challenging economic backdrop. The Society reported solid growth in both lending and savings, supported more first-time buyers than ever before, and opened a record number of savings accounts.
As a member-owned organisation, the AGM remains a key moment for Members to engage in the governance of the Society, ensuring their voices help shape its future direction while reflecting on performance and priorities for the years ahead – including an ambitious transformation strategy, focusing on commercial performance and digital investment.
First established in 1860 in Cardiff, Principality is Wales’ largest building society and has been a cornerstone of the community for more than 166 years, serving Members across Wales and its borders, and supporting communities through partnerships, charitable initiatives and accessible financial services.
Iain Mansfield, Chief Executive Officer of Principality Building Society:
“It was a privilege to meet with so many of our Members in Cardiff for the first time as Chief Executive Officer.
I’m delighted we could share a robust set of results for 2025, while also having open and constructive conversations about the future of the Society.
Hearing our Member views firsthand is invaluable. Our Members play an important role in shaping our society and reinforcing why digital transformation is essential to continue delivering long-term value for them.”
Principality’s continued investment in local communities was also highlighted during the AGM, including its partnership with Community Foundation Wales to deliver the Future Generations and Retrofit for the Future Funds. Since launching the programmes in 2022, the Society has awarded £2 million in grants to initiatives supporting young people and improving energy efficiency for community access organisations.
