Dick Jenkins, chief executive of Bath, said the society owed much to the mortgage side of its business.
Jenkins said: “Our results show the benefits of our long term strategy to lend to those good borrowers that for one reason or another fall foul of the big lenders’ one-size-fits-all-lending policies.
“Our results are also helped by the fact that we haven’t seen a big upsurge in the number of arrears cases this year, despite pressures in the wider economy, and where borrowers have found themselves facing difficulties, the society has helped by taking a very individual approach to each customers’ circumstances.”
