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Chelsea posts 12 per cent rise in gross lending

Chelsea Building Society saw its gross lending increase 12 per cent to £739m in 1998.


Retail funding was up 13 per cent to £448m. Its assets were up 15 per cent to £4202m. Pre-tax profits were up 12 per cent to £33.5m.


Chief Executive Michael Bage says: &#34In a subdued market, the society lent a record £739m on mortgages, while savers&#39 balances grew by almost £450m. Both figures are significantly better than proportional market share.&#34

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