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P.ublished 3rd August 2026
business
Newcastle Building Society Reports Resilient Half-Year Growth
L-R: Nichola Henderson, head of branch network at Newcastle Building Society, Kelly Coley, manager at Newcastle Building Society’s Guisborough branch, Andrew Haigh, chief executive of Newcastle Building Society, Jill Armstrong, managing director of Newcastle and Manchester Building Societies.
For the six months ending 30 June 2026, the society posted a pre-tax profit of £15.1m, up from £10.8m during the same period in 2025. Total assets grew to £7.4bn from £7.0bn at the end of December 2025, while savings balances increased by £354m to reach £6.2bn.
The mutual also recorded robust lending activity, with gross mortgage lending rising to £623m compared to £570m in the first half of 2025, and net residential mortgage growth reaching £289m. Underlying operating profit stood at £14.9m, reflecting ongoing investments in digital infrastructure, branch networks, and staff.
As a customer-owned mutual, the society emphasised its focus on member value. Between January and April 2026, savers earned an additional £10.5m in interest through rates averaging 0.55% above the wider market. Meanwhile, borrowers using the society's Standard Variable Rate saved approximately £790,000 compared with average market rates. Customer satisfaction remained high at 97%, accompanied by a Net Promoter Score of +85.
The period also saw continued expansion of the society's physical footprint, including the opening of a high street branch in Guisborough and further integration of the Manchester Building Society brand across the North West to preserve local access to financial services.
The first half of 2026 has demonstrated the resilience of our business model and the continued importance of our purpose-led approach. Despite an evolving and often challenging external environment with continued global and UK political and economic uncertainty, we have remained focused on creating long-term value for our members, investing in our communities and strengthening the sustainability of the Group.
As a customer-owned organisation, our success is measured not only by financial performance, but by the positive difference we make in the places we serve. Across the North East and North West, we continue to support people and communities through accessible face-to-face services, trusted financial advice, community partnerships, grant funding and initiatives that help create opportunity and improve financial wellbeing.
The opening of our new Guisborough branch, alongside the continued development of Manchester Building Society in Greater Manchester, demonstrates our commitment to maintaining access to financial services at a time when many high streets are losing them. Through both our Newcastle and Manchester brands, we are investing in the future of our communities, creating welcoming places where people can access trusted support, financial guidance and services that meet their needs.
We will continue to deliver value through competitive savings and mortgage products while investing in the capabilities, partnerships and infrastructure that will enable us to support members and communities for generations to come.
As always, I would like to thank our members for their continued support and our colleagues for their commitment and dedication to delivering our purpose of connecting our communities with a better financial future.
The shortened address for this article is: newspub.uk/220d7
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