Annual Report & Accounts
Annual Report & Accounts Leeds Building Society2008 Financial Highlights For the year ended 31 December 2008 £10.1billion in assets £6.6 billion total savings balances £1.3 billion new mortgage lending £20.3 million pre-tax profits £526million capital and reserves Contents Chairman’s Statement 2 Chief Executive’s Review 4 The Board of Directors 6 Directors’ Report 8 Corporate Governance Report 12 Directors’ Remuneration Report 15 Directors’ Responsibilities 17 Five Year Highlights 18 Independent Auditors’ Report 19 Group Income Statement 20 Society Income Statement 21 Balance Sheets 22 Statements of Recognised Income and Expense 23 Cash Flow Statements 24 Notes to the Accounts 25 Annual Business Statement 63 Where to find us 68 Directors Peter A. Hill, ACIB Robin A. Smith TD, LLB, DL (Operations Director) (Chairman) Carol M. Kavanagh, BA, MA S. Rodger G. Booth, MA, DL Ian Marshall, MA, FCA (Vice Chairman) David Pickersgill, FCA Ian W. Ward FCIB (Deputy Chief Executive) (Chief Executive) Abhai Rajguru, BSC (Hons), ACMA John N. Anderson QA CBE Ian Robertson, CA, CCMI Robert W. Stott Secretary Andrew J. Greenwood, LLB Chairman’s statement For the year ended 31 December 2008 our savers and keeping a vigilant control Covered Bond Programme to enable us to of costs to preserve our operating profits. participate in the Bank of England’s Special 2008 will be remembered This was to ensure that we could maintain Liquidity Scheme. This, together with other as a year of unprecedented our already strong capital position and add activity, provided additional wholesale change in world economies. to our reserves from the profit generated funding.
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