Ipswich Building Society is in a strong position with ambitious plans for the future, says its chief executive, who has responded to a report by accountants KPMG which said UK building societies ‘face challenges around profitability’ and will need to cut costs.
Paul Winter, Chief Executive, Ipswich Building Society, who was interviewed for BBC TV’s The Politics Show, which was broadcast on 13 September, has spoken out in response to the annual Database produced by KPMG about the future of the UK’s 53 building societies.
He says: “The executive summary in KPMG’s report created headlines that aren’t borne out by the figures. At Ipswich Building Society we are very positive about our future profitability and growth.”
On the strength of its performance in 2009 Ipswich Building Society has revised its Corporate Plan and aims to grow its total assets from £450 million to £550 million by the end of 2010.
Paul Winter added: “We have an excellent branch network and a contact centre to support customers who live across the UK but particularly in our heartland of the East of England, so we have the infrastructure in place to support our continued growth and success. We also have strong customer loyalty and simple, transparent products which people understand and trust.”
Ipswich Building Society achieved a 55% increase in receipts in savings and investments in the first half of this year, compared to the same period in 2008. Its mortgage applications have soared and the Society is one of few to open a new branch (in Sudbury, Suffolk) in the midst of recession.
For further information about Ipswich Building Society telephone 0845 230 8686 or visit the website at www.ibs.co.uk
Paul Winter, Chief Executive, Ipswich Building Society, who was interviewed for BBC TV’s The Politics Show, which was broadcast on 13 September, has spoken out in response to the annual Database produced by KPMG about the future of the UK’s 53 building societies.
He says: “The executive summary in KPMG’s report created headlines that aren’t borne out by the figures. At Ipswich Building Society we are very positive about our future profitability and growth.”
On the strength of its performance in 2009 Ipswich Building Society has revised its Corporate Plan and aims to grow its total assets from £450 million to £550 million by the end of 2010.
Paul Winter added: “We have an excellent branch network and a contact centre to support customers who live across the UK but particularly in our heartland of the East of England, so we have the infrastructure in place to support our continued growth and success. We also have strong customer loyalty and simple, transparent products which people understand and trust.”
Ipswich Building Society achieved a 55% increase in receipts in savings and investments in the first half of this year, compared to the same period in 2008. Its mortgage applications have soared and the Society is one of few to open a new branch (in Sudbury, Suffolk) in the midst of recession.
For further information about Ipswich Building Society telephone 0845 230 8686 or visit the website at www.ibs.co.uk
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