Country by Country Reporting

The Capital Requirements (Country-by-Country Reporting) Regulations 2013 introduced reporting obligations for institutions within the scope of the European Union's Capital Requirements Directive (CRD IV).

Article 89 of CRD IV requires credit institutions and investment firms in the EU to disclose annually, specifying, by Member State and by third country in which it has an establishment, the following information on a consolidated basis for the year ended 31 December 2016:

Name Type of entity Nature of Activity Location Number of employees Turnover Pre-tax profit Corporation tax paid Public subsidies received
Saffron Building Society Credit Institution Deposit taking and mortgage lending United Kingdom 178 £19,726,000 £1,231,000 £436,000 nil

Turnover is derived from the Income statement as total net income.