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Investegate |WestBromwich BldgSoc Announcements | WestBromwich BldgSoc: Final Results

The West Brom today announces its results for the financial year ended 31 March 2021
, reporting a pre-tax profit of £4.7m which is after absorbing a significant impact from the potential economic consequences of the COVID-19 pandemic lockdown.

·
38% increase in new mortgage lending to £784m (2019/20: £569m) and £1.2bn in new applications (2019/20: £0.9bn).

·
9% increase in residential owner occupied balances (2019/20: 3%) with 1 in 3 of all new mortgages helping support first-time buyers (2019/20: c.1 in 2).

1 (2019/20: 49%); equivalent to an additional £5.3m in interest (2019/20: £13.0m).

·
Demonstrated our resilience through the pandemic by remaining open for business while providing consistently outstanding service with our Net Promoter Score®
2 increasing to +76 (2019/20: +73) a ....

Black Country , United Kingdom , West Bromwich , West Midlands , United Kingdom General , City Of , Ashraf Piranie , Mark Nicholls , John Maltby , Fred Reichheld , Jonathan Westhoff , Bromwich Building Society , London Stock Exchange , Bain Company Inc , Financial Adviser Service , Employee Councils , Satmetrix Systems Inc , Financial Conduct Authority , Society Common Equity Tier , Group Finance Operations , England Base Rate , Regional Building Society , Bank Rate , Society Purpose , Society Liquidity Coverage Ratio , West Brom ,

Here's why an independent Scotland must take away the monopoly from private banks

Business lending – £0.43 trn
Government lending – £0.01 trn
Financial sector transactions – £5.53 trn
Total assets/liabilities–£7.13 trn
Source: Bank of England Bankstats 2014, quoted by John Kay in his book “Other People’s Money” (page 179)
Of the £7.13 trn total bank lending, only 6% consists of lending to business. This symptomatic of a “bankers’ currency”. A New Economics Foundation paper in four years later “Credit where it’s due”, confirms nothing had changed by 2018 – neweconomics.org/2018/09/take-control-of-credit
Financial sector transactions involve the buying and selling of fixed income securities (bonds), currency and commodities (FICC), and trading in derivatives such as “credit instruments”, “swaps” credit default swaps (CDSs), contracts for difference (CFDs). ....

United Kingdom , John Kay , A New Economics Foundation , England Bankstats , New Economics Foundation , ஒன்றுபட்டது கிஂக்டம் , ஜான் காய் , புதியது பொருளாதாரம் அடித்தளம் ,