(Image: L to R Nigel Pascoe, Simon White, Josie Paint, Jim Coupe and Jonathan Dell)

Skipton has delivered another strong set of annual results for 2022, announcing profits of £39.9 million before tax. This compares favourably to the 2021 annual profits of £25.5 million before tax – a 56% increase.

Return on Equity exceeded 30% for the first time at 36.6% and, whilst flattered by rises in base rates, still represented strong underlying growth from the prior year’s 25%.

During the year Skipton’s mortgage book grew strongly with completions increasing to £467m (2021: £376m). The mortgage book continues to perform well with only nine accounts in any form of arrears at year end, representing less than one in 900 mortgages.

The bank launched US Dollar savings accounts in 2022 providing more choice for its savings customers. The savings products were recognised at the *Moneyfacts Consumer Awards, winning the ‘Best Offshore Account Provider’ Award.

Jim Coupe, Skipton’s Managing Director, said: “I am pleased to be able to present these results on behalf of Skipton International. In a year that had its moments of turbulence in the financial markets I would like to thank my colleagues at Skipton for their hard work and exemplary focus on customer service, which delivered our third consecutive **Feefo Platinum Trusted Service Provider Award.

Skipton International offers Channel Island residential and Buy-To-Let mortgages, UK Buy-To-Let mortgages for overseas residents and a range of offshore savings accounts. The full report can be viewed at: www.skiptoninternational.com/about-us

*Moneyfacts is an independent comparison organisation for the finance industry

**Feefo is and independent customer service review platform

For further information or interviews, please contact Julie Todd, PR Manager, Skipton International, on 01481 734002, mobile: 07781 116713, or email her at: julie.todd@skiptoninternational.com

About Skipton International:

Skipton International offers a range of offshore savings accounts and is one of the Channel Islands’ leading mortgage lenders. It is a two times winner of the Moneyfacts ‘Offshore Bank Provider of the Year award 2022 and 2023, and the Mortgage Introducer ‘Top Mortgage Employer’ Award 2022.

Skipton International Limited (Skipton), registered in Guernsey: 30112, is a wholly owned subsidiary of Skipton Building Society.

Skipton is licensed under the Banking Supervision (Bailiwick of Guernsey) Law. Skipton is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any five-year period. Full details are available on the Scheme’s website www.dcs.gg or on request. To help maintain service and quality, telephone calls may be recorded and monitored.

Skipton International has a customer service rating of 4.7 / 5 according to Feefo, an independent online assessor of customer service, and is a three-times Platinum award winner as a trusted provider.