In its full year results to December 2011, the mutual said it was responsible for 17% of all mortgage lending by the building society sector last year.
It said: “The Society has maintained a rate of organic growth which has been broadly unchanged for over ten years, and the ability to continue this prudent growth rate in a reduced market has resulted in a substantial increase in our market share.”
The society was eighth largest mortgage lender in the mutual sector in 2010 and will be in the top ten this year.
The mutual reported a record operating profit before impairments and exceptional items of £94.5m, against £85m the previous year and pre-tax profits of £84.6m, a year-on-year rise of 12%.
Coventry said its “exceptionally strong funding position” was evidenced by its first sterling covered bond issuance of £750m in April 2011 and first euro covered bond of €650m in October 2011.
David Stewart, Coventry chief executive, said: “Coventry is the only top ten building society to have increased its savings, increased mortgage lending, remained profitable and grown its assets in each of the five years since the start of the credit crisis. We could not have achieved this leading performance without the support of the intermediary sector.”
He added that the society’s support for intermediaries is evidenced by its intermediary pledges, the promise not to dual price and 48 hours notice of product withdrawals.
“I believe our partnership with intermediaries will strengthen further as we work hard to continue the successes of the last five years,” he added.
HSBC, which reported on Monday this week, also increased its gross new mortgage lending to £13.2bn in 2011, up 12.2% from £11.77bn in 2010, and securing it a 9.6% market share.
The previous week, Lloyds announced a 7% drop in its mortgage lending to £28bn and RBS also reported losses but maintained lending at £16.2bn.
