Teachers Building Society has reported a 29% increase in its annual pre-tax profits to £686,000.

Its 2011 gross mortgage lending was up 31% on the previous year.

James Bawa, chief executive of Teachers Building Society, said: “We set out a new strategy last year to ensure our continued strength investing in a new brand identity and website and re-entering the broker market. So it’s particularly pleasing that we still returned such a positive result and