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Monmouthshire BS increases gross lending by 31%

Monmouthshire Building Society increased its gross lending by 31 per cent in the year to April 2012.

The building society advanced £138m in the 12 months to April, up from £105m over the same period a year earlier.

Pre-tax profit reached £2.7m compared to a profit of £2.4m in the previous year.

Total assets reached £819m, up from £742m the year before.

There was a net inflow of retail savings of £45.2m to April, compared to £33.7m the year before.

Chief executive Andrew Lewis says: “Notwithstanding the ongoing challenges within the marketplace, Monmouthshire Building Society continues to buck the industry trend yet remains as strong and secure as ever. Our results outperform the competition, clearly demonstrating the attraction of the Society and how we continue to go from strength to strength.”

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