What a great business model - simple , low risk, well done

Coventry Building Society has reported an increase in net profit from £26.4m in 2008 to £56.2m in 2009, while impairments rose by £3.3m to £75m. The society also grew its deposit book by £833m and its number of accounts by over 270,000. Chief executive, David Stewart, noted that the society's strength lies in it executing a 'simple business model without recourse to increased risk'.