Bradford-based Yorkshire Building Society has reported statutory profit before tax of £187.9 million for the first half of 2025, up from £158.1 million for the same period of 2024.

Net interest income for the period rose to £429.6 million from £340.8 million in the first half of 2024.

But the building society said: “We have increased the overall balance sheet in the first half of 2025, however increased competition in our core markets of savings and mortgages has impacted levels of growth.”

Balances at the mutual decreased by £200 million in the period to £52.7 billion (Period to 30 June 2024: £2.6 billion growth).

“So far this year, we have provided more than 18,000 mortgages, with nearly 4,000 going to first-time buyers …” wrote Yorkshire Building Society CEO Susan Allen.

“We have grown our membership and seen 288,000 new savings accounts opened …”