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Lending boost for Coventry

Coventry Building Society has reported a post tax profit of £28.4 million for the year ending December 2001 up from £27.6m the previous year.

Its net mortgage lending is up 53 per cent to £619m from £301m. It says it achieved record gross mortgage lending of almost £1.5bn, up from £1.2bn.

Intermediaries accounted for 40 per cent of Coventry&#39s mortgage business, compared with 28 per cent through branches, 15 per cent by telephone and 15 per cent over the internet, from no online mortgage sales in 2000.

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