Another year of strong results, and our £2K donation to Prostate Cymru at AGM

On the back of another strong set of results, we held our annual general meeting (AGM) at the Swansea.com Stadium yesterday (Thursday, April 23). The event also saw us present a substantial cheque to our official charity partner, Prostate Cymru.

At the well-attended meeting, our board outlined the Society’s financial performance and highlighted the continued success of our community-focused approach. This includes the expansion of our branch network across South Wales, alongside the benefits of an ongoing investment programme that began in 2015.

The AGM also underlined our ongoing commitment to Prostate Cymru. A cheque for £2,000 was presented by Chief Executive, Alun Williams, on the day, reflecting the pledge to donate £1 for each member vote cast, which we then rounded up.

Our Society achieved significant growth in our total assets, mortgages, savings and capital for the fourth year running, despite the difficult economic environment. 

For the year to 31st December 2025, our total assets increased by £21.4 million to £715.1 million. Our savings balances increased by £16.6 million to £663.9 million, while our mortgage balances grew by £46.8 million to £576.9 million, driven by gross mortgage completions of £117.5 million during the year. Mortgage arrears remained low at just 0.33% of total mortgage balances.

Our growth was supported by another strong financial performance. Our profit before tax reached £6.2 million (2024: £6.3 million). This increased our capital reserves by £4.6 million to £49.1 million. Maintaining strong capital reserves is vitally important to us, here at the Society, as it provides greater financial strength and ensures we can continue to support our members in achieving their financial goals.

Alun Williams, our Chief Executive, said:

“We’re pleased to report another year of strong, consistent performance for Swansea Building Society, reflecting the continued trust of our members and the strength of our community-focused approach. Our growth has been achieved while maintaining prudent lending standards and strong capital reserves, ensuring we remain well placed to support our members for the long term.

“It was also a pleasure to come together at our AGM and continue our support for Prostate Cymru, a charity doing vital work across Wales. We’re proud that our members’ engagement has once again helped contribute to such an important cause.”

The Society remains one of the few financial institutions in the UK that receives no wholesale funding or support from the Bank of England in the form of cheap funding. Our balance sheet is funded entirely by customer savings balances and our own capital reserves built up from retained profits over many years.