This year, over 75,000 members voted, which is a 10% increase on the corresponding total in 2004. More than 8 out of 10 voters were in favour of the name change to Leeds Building Society, which will take effect later this year.
The chairman, Robert Wade said: "We are delighted with the high number of votes received this year which confirms our members' keen interest in their Society and their wish to remain an independent building society. We strongly believe that changing our name to Leeds Building Society very clearly describes our successful business to all people throughout the UK".
The Chairman added: "We delivered an excellent financial performance in 2004, with profits, lending and savings balances all at record levels, thereby producing the Society's best ever results.
The highlights of the record results announced by the Society are listed below.
2004 Highlights:
- Assets increase by 15% to a record of £6.1bn
- Pre-tax profits up by 14% to a record £41.7m
- Best ever savings balances increase of £468m to £4.1bn
- Record gross mortgage lending of £1.6bn - up by 13%
- Record net mortgage lending of £581m
- Another big improvement in efficiency with cost asset ratio falling by 5p to just 67p per £100 of assets (72p in 2003)
- Cost to income ratio of just 47p per £1 of income
- Net interest margin reduces even further to 1.07% from 1.11%
