Principality Building Society, Wales’ largest the UK’s 6th largest building society this week has announced its full year results for 2025.
Against a backdrop of elevated rates and economic uncertainty, the mutual delivered real value for both savers and borrowers as it invests in transformation for the future while delivering on its strategy and purpose to help more people grow their savings and buy a home.
Performance highlights:
- Statutory profit before tax has grown to £60m (2024: £49.2m)
- Efficient management of running costs has brought our Statutory Management Expense Ratio down (0.84% in 2025, 0.94% in 2024)
- Mortgage book has grown by £0.6bn, taking residential lending to £11.1bn (2024: £10.5bn)
- They’ve grown our savings balances by £0.8bn to £11.6bn in 2025 (2024: £10.8bn)
- Record number of first-time buyers as they increase their total to 8,277 (2024: 8,120)
- Record number of savings accounts opened (175,000) more than ever before, the majority of which (124,000) were opened digitally.
Iain Mansfield, Chief Executive of Principality Building Society, said:
“Having served this business for the last 10 years of my career, I’m immensely proud to be leading the Society. It’s the start of a genuinely transformational period, one where we will take the next bold steps to reimagine how we deliver for our Members.
The pace of societal change is rapid, with advancements in technology reshaping financial services markets and customer expectations.
At the same time, Members and businesses face a volatile external environment and economic uncertainty, with the Bank of England base rate remaining elevated.”
Iain Mansfield continued: “This is a pivotal moment for the Society, as we navigate a period of subdued economic growth, balancing the needs of savers and borrowers as we face into the Bank of England projected rate declines, while also recognising the need to invest and evolve the business for the longer-term.
This means reimagining how we deliver for Members now, as a trusted, digital, Society with excellent customer service that is easy to do business with, while also using our convening power in the sector to drive impact beyond our scale.
We are a mutual with the scale, ambition and a sharp commercial focus that will enable investment that continues to drive results and ensure we remain relevant for our Members today and tomorrow.”
