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Progressive invests in the local High Street

03 June, 2015

Progressive Building Society has opened a new branch in Cornmarket in Belfast City Centre, confirming the Society’s long-term commitment to investing in the local economy and developing the High Street.

The new branch, which is one of 12 that Progressive has in cities and towns across Northern Ireland, is part of a £2m investment strategy in developing and enhancing its branch network through refurbishments and new branch openings since June 2014.

The building society which held its 100th AGM this year recently announced that its new mortgage lending had increased 30% to £153 million and post-tax profits for 2014 of £9.85 million reflecting the growing confidence in the Northern Ireland housing market.

Commenting on the opening Darina Armstrong, Chief Executive said, “We are fully committed to investing in the high streets of our towns and cities across Northern Ireland and the opening of our new branch in Cornmarket is a clear demonstration of this commitment.. As part of our investment strategy we will also be developing our head office branch at Progressive House which will provide our members with access to state of the art facilities in convenient locations in the City Centre.”

Northern Ireland’s largest locally owned financial institution, Progressive celebrated its centenary in 2014. The building society also increased the numbers employed by 10% over the past 12 months further confirming its commitment to investing in the local economy.

Continuing Darina said, “The investment in our branch network strengthens our position as one of Northern Ireland’s leading providers of mortgages and savings. As consumer confidence returns it’s our view that the local housing market will see sustainable growth throughout the remainder of 2015 and beyond and our key focus will be on continuing to provide security for our members and building on our financial strength.”

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