Latest news with #PrincipalityBuildingSociety
Business News Wales
2 days ago
- Business
- Business News Wales
Principality Building Society's Iain Mansfield Appointed as CBI Wales Vice Chair
Principality Building Society director Iain Mansfield has been appointed as CBI Wales Vice Chair. Iain, Chief Financial Officer at the 165-year-old building society, brings substantial business experience, insights and considerable acumen to the CBI, which is also celebrating a special anniversary – 60 years as the voice of business. Iain will be Chair-designate of CBI Wales, stepping up to this role in 2026. He is working with CBI Wales Director Russell Greenslade and Chair Alison Orrells during a busy period for business following the Uk Government's Spending Review, the forthcoming launch of the UK Industrial Strategy and the Welsh Government's international investment summit – an event that was announced at the CBI Dinner last year – in Newport on 1 December. Iain will also be a high-profile presence at the CBI Wales Dinner at Sophia Gardens, Cardiff, on 13 November, a key date in the calendar for Welsh business, UK, Welsh government politicians and other stakeholders. Welcoming Iain's appointment, Russell Greenslade, Director, CBI Wales, said: 'I'm excited to welcome Iain as Vice Chair. He will play a crucial role supporting myself and the team in representing the interest of business in Wales, utilising the CBI's unrivalled expertise and policy insights from across the UK to ensure the governments in Cardiff and London are delivering for business. 'With such an extensive business background, an understanding of the financial burden and risk businesses face – from high energy costs to rises in NICs introduced in the Autumn Budget – and knowledge of a rapidly changing economy that includes advances in AI, and the skills shortages holding back firms, Iain will complement our current Chair's tremendous work. 'Although the CBI has a few years to go to match the Principality's 165 years, our organisations have much in common, including a strong and supportive membership base, and businesses – from north, south, east and west – that I've spoken with about Iain's appointment are delighted that he further strengthens the CBI Wales senior leadership team.' Alison Orrells, Chair, CBI Wales and Managing Director and CEO, The Safety Letterbox Company, said: 'With my extensive background at the front of a Welsh business and in particular manufacturing, exporting and SME challenges, coupled with Iain's significant experience in financial services, we'll be a strong double-act over the coming months to reinforce the CBI's reputation as the voice of business in Wales amid a time of increasing global economic uncertainty, from trade tariffs to conflict in the Middle East and to continuing high energy prices. 'We must ensure firms across Wales have access to a ready supply of skilled people and are equipped for the rapidly changing technology and use of AI. We need to do all we can to unlock barriers to growth and we'll both be listening closely to what businesses have to say at our quarterly CBI Wales Council meetings and working groups, taking CBI members views and experiences to policy colleagues to feed into the heart of government.' Iain Mansfield, Vice Chair, CBI Wales and Chief Financial Officer, Principality Building Society, said: 'It is a genuine privilege to take up the position of Vice Chair, and eventually Chair, at the CBI in Wales, particularly as the organisation celebrates its 60th anniversary alongside Principality's own 165th year of supporting communities across Wales. 'Throughout my career, I've witnessed firsthand the resilience, adaptability and innovation that define and drive businesses in Wales. 'Businesses today are navigating a complex economic landscape shaped by global challenges such as elevated interest rates and inflationary pressures. Yet here in Wales, we also face specific challenges closer to home—particularly the urgent need to unlock productivity to secure sustainable, long-term growth. 'Addressing these issues requires collaboration across the diverse businesses that underpin our local and national economy. 'I look forward to working with Russell, Alison and our membership to represent and champion the needs of businesses in Wales and ensure that together we help shape a thriving economic future for Wales and its businesses.'
South Wales Argus
13-06-2025
- Business
- South Wales Argus
Natasha Asghar MS visits Newport Principality branch
The visit was part of celebrations marking the society's 165th anniversary. The Principality Building Society, with its largest branch presence across Wales, declared in April its commitment to maintaining high street and community presence until 2030. This decision stems from consistent member feedback and research that indicates more than 70 per cent of people consider branch presence crucial when choosing a financial provider. Kelly Young, head of savings customer services, said: "Cash remains a vital part of daily life for many—not just as a payment method, but as a pillar of financial stability, especially for small businesses, residents, and rural communities." She added that the society is committed to investing in its network and ensuring access to cash for the communities it serves. Natasha Asghar, member of the Senedd for South Wales East, commended the society's dedication to maintaining its local branches and services across Welsh communities. She said: "With over 160 years of service, the Principality remains a cornerstone of Welsh town centres and has the strongest high street presence of any financial services provider in the country." The society was first established in Cardiff in 1860.
Business News Wales
22-05-2025
- Business
- Business News Wales
Principality Building Society Named Headline Sponsor of Pride Cymru for Third Consecutive Year
HUW JOHN, CARDIFF – pictureshuwjohn@ Principality Building Society sponsorship Pride Cymru 2024, Cardiff Pride Cymru has announced that Principality Building Society is headline sponsor for the third year running, as part of its main stage sponsorship deal. Wales' largest not-for-profit LGBTQ+ group, which this year celebrates its 26th anniversary of advocating for inclusion and equality, is set to host the annual weekend event from June 21 in Cooper's Field, Bute Park, Cardiff. The event is expected to attract over 50,000 people to the city, with the parade at the heart of the celebration, bringing together thousands of individuals to march in solidarity and pride. Principality Building Society, Wales' largest, recently announced their long-term commitment to high streets and the community until at least 2030. Principality colleagues will join the march and branding will be visible across the event as the organisation continues their commitment to being an ally to the LGBTQ+ community, and to creating a fairer society. Principality plans to further support Pride events across Wales, including the return of Cardiff Half Marathon's Rainbow Roundabout at this year's event on Sunday October 5. The roundabout, which participants pass twice between miles 10 and 12, gives runners a boost of a vibrant and colourful atmosphere. Vicky Wales, Chief Customer Officer at Principality Building Society, said: 'We're delighted to once again be headline sponsors of Pride Cymru. As a responsible business, we are committed to championing inclusivity, belonging and advocating for a fairer society. 'Thanks to the passion and dedication of our Pride network, colleagues, their friends and families come together in strength for the march – creating an incredible atmosphere every year. I have no doubt this year will be any different, and I am really looking forward to it.' Gian Molinu, Chair of Pride Cymru said: 'We're delighted to welcome back Principality Building Society as our Main Stage sponsor. 'Over the last three years, Principality has worked closely with us to make sure Wales' national Pride event is able to go ahead in a safe and engaging way. 'We thank everyone at Principality Building Society for their continued commitment and their allyship.' Matt Newman, Chief Executive at Run 4 Wales, said: 'We're so pleased to be continuing our partnership with Principality Building Society and Pride Cymru on the return of the Principality Rainbow Roundabout. 'This will be the third year the inclusive course entertainment zone will appear at the Cardiff Half and runner feedback has always been fantastic. 'Not only is it a great symbol of inclusivity showing that the Cardiff Half is welcoming to all, but its position at miles 10 and 12 really helps to motivate runners when they need it most. 'The Principality Rainbow Roundabout always gives so much vibrancy and positivity and has become an area the runners look forward to reaching as they make their way towards the finish line.'
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
House prices stall across West Wales
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
Man arrested after three-car crash on A40 near Haverfordwest
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
