Leeds Building Society delivers 'strong annual results' as it secures one million members
Leeds Building Society said it delivered strong results during 2025, as it reached the milestone of securing one million members and invested in its branch network.
The society delivered a profit before tax of £198.6m in 2025, which was above the underlying profit before tax figure of £187.5m recorded in 2024.
The mutual said this improvement was supported by robust growth in mortgage lending and a strong increase in savings balances, alongside continued investment to deliver long-term benefits for members.
Savings balances reached £26.1bn, an increase on the £24.5bn recorded the year before.
The statement added: “At a time when many providers are scaling back face-to-face support, Leeds Building Society continues to invest in modernising its branch network. Members value branch services highly, particularly access to savings passbooks which the society has committed to keeping.”
A spokesman said that the mutual had 51 branches in total, including 16 in Yorkshire. The most recent branch opening was in Solihull in 2024 and since then the society has completed refurbishments in Harrogate, Halifax, North Shields, and moved its South Shields branch to a more modern site.
Annette Barnes, Interim Chief Executive Officer of Leeds Building Society, said: “Our performance in 2025 shows that our society is both financially strong and is moving confidently into the future.
"Over the past year we’ve made significant progress in upgrading our technology, including testing our first savings accounts and mortgage applications on our new system.
“We’re committed to providing our members with innovative products and the long-term support they need: faster and more intuitive digital experiences, alongside the personal, human interaction that remains so important to many. Development of our mobile app is also underway and is a key priority in 2026.
“We remain steadfast in delivering on our purpose of putting home ownership within reach of more people, generation after generation.
"Helping people buy their first home is one of the most important roles we play as a mutual, and we’re proud that nearly half of our new mortgages in 2025 supported first time buyers.”
Ms Barnes told The Yorkshire Post that the mutual was committed to a full programme of branch refurbishment adding: "We're really proud of our presence on the high street. Branches and digital channels are important to us.”
"Over the last year we have created 132 jobs at our head office in Leeds. One thousand of our 1,700 staff are based in the Leeds head office. We see AI (artificial intelligence) as a means of supporting productivity.
"It helps our colleagues work more efficiently and is a way of removing mundane tasks."
The mutual said it generated the equivalent of £225.6m in extra interest for members in 2025 due to it paying 0.90 per cent above the market average on savings rates.
In 2025 the society also delivered more than 700 free one-to-one fraud awareness clinics in branches and communities across the UK to help protect members from scams.