Chief executive David Stewart said: “The last twelve months have seen a number of notable market developments some of which have helped the performance of mortgage lenders generally. 

“The improved availability of mortgage finance to borrowers is a welcome development though banks and building societies must remain mindful of the need to lend responsibly.”

Despite operating in post-crisis conditions which Stewart described as increasingly “complex” and “hostile” the society increased its mortgage assets by £2.1bn to £24.1bn and savings balances grew by £1.2bn to £21.3bn.

At 31 December 2013 the results showed 0.57% of mortgage balances were 2.5% or more in arrears and impairment charges during the year totalled £6.3m from a loan book of over £24.1bn.

This week several of the UK’s largest building societies released their annual results.

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Yorkshire Building Society remains just ahead of the Coventry in terms of gross mortgage lending last year reporting a 48% increase to £6.8bn.

This week, the Skipton Building Society reported £2.4bn of gross mortgage lending in 2013, representing a 63% increase while the Leeds announced growth of 31% to £2.16bn.