Ipswich Building Society.

Financial Results year ended 30/11/2011

Profit for the year rose substantially to £1,380,000. Mortgage balances grew by 9% with new lending totalling £91 million amd mortgage arrears were well below the industry average. Savings balances grew by 4% and stood at £480 million at the year end. Provisions for bad and doubtful debt was £124,000 and £163,000 was paid to the FSCS Levy. Management expenses as a % of mean total assets was 1.10%

Ipswich Building Society Financial Results year ended 30/11/2010

Ipswich Building Society made a profit after tax of £364,000. This was after a contribution of £129,000 to the fscs levy. Provisions for bad and doubtful debt was £163,000 (2009 £242,000). Management Expense ratio was down to 1.08 per £100 of mean assets.   Gross mortgage lending was £80 million and during the year Ipswich Building Society retail savings balances increased by £83 million to £458 million.

Ipswich Building Society Financial Results year ended 30/11/2009

Ipswich Building Society made a profit after tax of £271,000. This was after a contribution of £116,000 to the fscs levy. Provisions for bad and doubtful debt was £242,000 (2008 £188,000). Management Expense ratio was down to 1.16 per £100 of mean assets.   Gross mortgage lending was £75.7 million and during the year Ipswich reduced admin costs by 10%.

Ipswich Building Society Financial Results year ended 30/11/2008

Ipswich Building Society made a profit after tax of £213,000. This was after a contribution of £148,000 to the fscs levy. Provisions for bad and doubtful debt was £188,000 (2007 £7,000). Management Expense ratio was £1.37 per £100 of mean assets which is high for the sector. At the year end there were 13 mortgage accounts that were 12 months or more in arrears of which the principal outstanding was £1,553,007 and the arrears £134,784.

Ipswich Building Society Product Range

Ipswich Building Society provides savings accounts, mortgages and insurance products. The savings accounts include easy access savings accounts, regular savers, ISA's, child trust fund and accounts for young savers. The mortgage range includes fixed rate mortgages, variable rate mortgages, remortgages, self cert and buy-to-let mortgages. Insurance products include buildings insurance, contents insurance, mortgage protection insurance and life insurance from LV.