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Derbyshire announces bumper year

The Derbyshire building society is trumpeting 1999 as its best year ever in terms of growth, lending and share investments.


The building society has 61 branches across ten counties in England, predominantly in the north of the country. The record growth saw lending grow to £586m up from £396m the previous year. The society says it is particularly pleasing as the north did not experience the phenomenal growth in house prices witnessed in the south.


It believes net lending figures hit an all time high of £289m in 1999 from £128m because of customers&#39 recognition of the value of remaining mutual.


The group says its investment and deposit balances were bolstered by the launch of its first loyalty bond – marketed exclusively to the society&#39s existing members – its Isa range and the Isle of Man-based offshore subsidiary accounts.


Derbyshire chief executive Peter Richardson says: “We have had a terrific year and performed exceptionally well in a highly competitive marketplace.”

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