The building society saw an increase in both revenues and profits during 2025
A Leeds Building Society branch(Image: Taken from the Leeds Building Society image library. https://www.leedsbuildingsociety.co.uk/press/im)
Leeds Building Society has reported a year of strong performance that saw it reach the milestone of having a million members.
The society has released its annual report for 2025 in which total income rose from £355.6m to £412.5m. Over the same period, operating profit increased from £137.5m to £198.6m.
As well as getting to a million members, the society’s savings balances rose to £26.1bn, though new mortgage lending cooled slightly.
The society said that its Income Plus range, which has a loan to income ratio of 5.5 times, had helped 900 first time buyers.
It also highlighted efforts to invest in its branch network, completing refurbishments in Harrogate, Halifax, North Shields, and relocating its South Shields branch. As part of its community involvement, it awarded more than £1m to 270 charities and community groups, as well as hitting a £300,000 fundraising target for the children’s charities Barnardo’s ahead of schedule. The target has now been increased to £500,000.
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 homeownership 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.”