The West Bromwich Building Society has returned to profit for the first time since it was ravaged by the credit crunch.

The Black Country mutual jumped into the black, posting a £2.1 million pre-tax profit for the year to April, compared with a loss of £9.1 million the year before.

The return to profitability came after the West Brom made a return to the residential mortgage market - lending £213.6 million across the year, up from £19.3 million in the 2013 financial year.

Chief executive Jonathan Westhoff said the performance was five years in the making, following a 'Back to Basics' strategy to strengthen its capital position.

He said: "We remain resolute in our adherence to the traditional building society model and the delivery of long-term value for members. 

"Residential lending activity in particular has gathered pace over the last year, underpinned by a new mortgage processing platform and a suite of products that appeal to both new and existing borrowers.

"Our return to profit, strengthened capital position and the improving economic environment mean that West Brom can face the future with considerable optimism.".

The West Brom profited as the Government's Help to Buy scheme encouraged more people into the mortgage market in the second half of the year.

Its balance sheet was also boosted by a £5.1 million gain on the revaluation of its investment property portfolio, amid an upward trend in UK property prices.

The group said it expected its mortgage activities to increase in the year to come.

Total income across the year rose from £49.2 million to £61.9 million and net margins improved from 0.49 per cent to 0.81 per cent.

Its tier one capital ratio improved from 12.8 per cent to 13.4 per cent although total assets dipped from £6.2 billion to £5.7 billion.

The improvement in fortunes comes a year ahead of the West Brom's much-awaited move to new offices.

The mutual will relocate its headquarters to a 70,000 sq ft new landmark site at the Providence Place development in West Bromwich.

City firm Associated Architects was appointed to design the new building which is due to be completed by the end of the year.