Soaring Financial Successes Revealed in West Bromwich Building Society's 2025 Annual Report

West Bromwich Building Society has released its annual financial report for the year ending 31 March 2025. The detailed document reveals a highly successful year for the society, with significant achievements in various economic arenas.

The West Brom reported record-breaking new mortgage lending at £1.3bn for the year, a considerable leap from the £1.1bn in 2023/24. Mortgage lending for homeownership in particular rose by 19%, providing a lifeline for the property aspirations of over 6,000 first-time buyers, a 34% increase on the previous year. West Brom’s ground-breaking approach to the Standard Variable Rate also saved borrowers an average of £1,300 annually.

But it’s not only borrowers who have benefited. A staggering £41.8m more interest was earned by savers than if they’d received the average interest rate, welcoming over 13,500 new savers to the fold. The society saw savings balance growth of 9% year on year to reach £5.1bn.

The Building Society made further history by becoming the first in the UK, and indeed the first employer in the West Midlands, to land all three coveted accreditations from the Living Wage Foundation. These recognitions reward businesses offering a Living Pension, setting Living Hours and paying a Real Living Wage.

West Brom’s financial strength was further bolstered by a 14% rise in profit before tax to £36.5m, maintaining a robust Common Equity Tier 1 (CET1) ratio of 17.1%. While forward-looking statements provided in the report have inherent risks attached, the society is confident in its stalwart economic position.