To request the tables in Microsoft ® Office Excel ® format contact UKFS-Banking@kpmg.co.uk
Headline findings from the report include:
- Total sector assets fell by £13.3bn from April 2010 to April 2011: comprised of the transfer out of the sector of Kent Reliance (£2.3bn) and reductions in assets suffered by 9 of the top 13 Peer Group 1 societies (£11.0bn)
- As regards balance sheet structure, 34 societies reported a reduced level of non-owner occupied lending and 30 societies reported a reduced level of wholesale funding, both trends thereby increasing focus on core member related business
- Despite continuing difficult market conditions, 28 societies reported an increased bottom line profit for the year, with 4 reporting a loss for the year (compared to 6 for the previous year)
- 9 of the top 13 Peer Group 1 societies reported increases in net interest margin
- 28 societies reported reduced mortgage impairment charges, including all the top 8 societies.