Bradford-based Yorkshire Building Society announced that its retail savings balances rose £1.8 billion to £35.2 billion during the six months to June 30, 2021.

The mutually-owned Yorkshire said its profit before tax for the first six months of this year was £147.7 million, an increase on £67.3 million over the same period of 2020.

In its outlook, Yorkshire Building Society said: “On balance, the first half of 2021 brought a more positive outlook, contextualised by the successful progress in vaccinating the UK population and the gradual easing of social distancing measures.

“The majority of independent forecasters are now expecting stronger activity over the next two years; however, the range of possible outcomes is wide and risks to the downside remain significant.

“We continue to monitor the emergent challenges and threats, both economically and operationally, and the Yorkshire Building Society remains in a position of strength to continue to serve our customers, communities and stakeholders.”