Principality Building Society.
|Principality Building Society was formed in 1860 as the Principality Permanent Investment
Building Society and income for the first year amounted to a modest £367. Today The head office address is The Principality
Building Society, PO Box 89, Principality Buildings, Queen Street, Cardiff CF10 1UA.
They have 65 locations with new agencies opened in Bargoed, Newcastle Emlyn, Abertillery,
Ystradgynlais, Treharris, Ross-on-Wye, Talbot Green, Caernarfon and Colwyn Bay in 2010.
They offer a number of products including
Fixed Rate Mortgages, Discount Mortgages, Tracker Mortgages, Fee Saver Mortgages, Flexible Rate Mortgages and Buy-to-Let Mortgages.
Savings Accounts- Internet Savings Accounts, Fixed Term Savings
Bonds, Tax Free Accounts – ISAs, Easy Access Savings Accounts, Notice Savings Accounts, Children's Savings Accounts
and Business Savings Accounts.
Insurance- Home insurance, Life Insurance, Mortgage Protection Insurance and Over 50 Life Insurance.
For the year ended 31/12/2010 The Financial Results for Principality
Building Society were 2009 figures in (brackets)
Assets £6,262.1 million (£6,218.9
Executive Directors Pay £1,275,000 (£1,527,000)
Non Executive Directors Pay £337,000 (£333,000)
Mortgage lending in the year was £934.8 million and at the end of
the year the principality building society had 53 properties in possession. Loan impairment was £22.2 million as agains
£39.5 million the year before. During the year savings balances rose by over 2.1% to over £5 billion and 52,000
new customers joined the building society.
Management expenses as a percentage of mean total assets increased to 1.00% from 0.95% the previous