'Strong' year for building society

THE Ipswich Building Society has overcome the turmoil in the financial services industry to post a “strong” set of results of 2009. The society said yesterday it achieved asset growth of 9% last year, taking its total assets to �462million.

THE Ipswich Building Society has overcome the turmoil in the financial services industry to post a “strong” set of results of 2009.

The society said yesterday it achieved asset growth of 9% last year, taking its total assets to �462million.

Mortgage lending totalled �76m while there was a net savings inflow of �24m.

Paul Winter, the society's chief executive, said: “The confidence and trust our customers have shown have been essential to Ipswich Building Society's success during a period when many other financial institutions have suffered.

“We have achieved this through taking our responsibility to our customers and to our wider community seriously and through our continual focus on quality of service and innovative, competitive products.”

Further details of the society's achievements during 2009 will be given at its annual general meeting on March 24.