The Saffron Building Society has published its results for 2012.

Total assets grew by 11.1% to £1,208,000,000, while pre-tax profit was down, at £1.4m compared to £1.8m in 2011.

Mortgage balances were up by £79m or 10.4% and savings balances up by £109.5m or 11.1%.

Jon Hall, CEO, commented: “It was great to announce that Saffron is still the largest independent building society in the East of England and that we could report another year of profit and a significant growth in Saffron’s assets, now over £1.2 billion.

“It was also really encouraging to see such a great turn out and so many members at this year’s meeting. For me, the AGM typifies how being regionally-based allows our members to keep up-to-date, stay involved with what we’re doing and have a say on how the Society is run. It enables us to have a direct conversation with members and take onboard suggestions made. Having that time with members is really important to me and all the directors here at Saffron.“

“Going forward, we will continue to deliver high levels of service, offer assistance in branch and online and help more homeowners with their mortgage and savings needs.”