Leicestershire building society reveals record results

esbs, or Earl Shilton Building Society, recently released its annual results to members, revealing positive financial results, despite another economically challenging year.

Chief Executive Paul Tilley

The Society, which has branches in both Earl Shilton and Barwell, showed total asset growth of 10%, but prioritised the interests of members by increasing interest rates for savers resulting in a similar level of profit to 2022/23.

The business continues to thrive for the benefit of the customers, growing over 20% in the last two years and surpassing the £180m assets barrier for the first time this year.

The Society also lent a record amount of nearly £35 million, 17% higher than last year, while saving balances increased over £15 million.

Offering competitive products is key to esbs, and this shows in the Society’s fourth consecutive win of Best Self-Build Mortgage Lender in The Money Pages Personal Finance Awards.

In the last year esbs has focussed on its IT infrastructure and is commencing a transformation project to future proof the business for the benefit of members. This project will also encompass digital products such as savings account onboarding, the mortgage intermediary portal and ancillary but complementary integrated systems.

97% of new members stated they would recommend the Society to others, a testament to the first class service esbs offers its members.

Paul Tilley, Chief Executive of Earl Shilton Building Society, said “As a business we continue to balance the competing needs of savers and borrowers in a considered manner. I would like to take this opportunity to thank our members once again for their ongoing support, and for so readily using our products and services.

“This will be my last attendance at the AGM in July as Chief Executive, as I have decided after a 40 year career to retire later this year. It has been an honour and a privilege to lead the Society over the last 13 years. I continue to be delighted at the focus, commitment, professionalism, and collaborative approach that colleagues demonstrate every day to deliver good customer outcomes, and I would like to record my sincere personal thanks to everyone.”

To view the Summary Financial Statement in full, or for further information on Earl Shilton Building Society, visit www.esbs.co.uk.