Building society renews bid for deposit-taking operation

Friday 5th January 2007, 12:00AM GMT.

BUILDING society Kent Reliance has renewed its request to the Jersey authorities to open a deposit-taking operation in the Island.

Kent Reliance, a mutual founded 150 years ago, is the UK-based parent of mortgage operation Jersey Home Loans, which last year was the biggest lender in the Island, issuing in total £196 million.

Mike Lazenby, chief executive of Kent Reliance, said although the UK market was very competitive, the society was ‘constantly hitting above the average’ and according to KPMG has been the fastest-growing building society in the UK for the past five years.

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