Performance
Skipton International delivered strong profitability in 2024, despite continuing economic uncertainties and inflationary pressures, both domestic and global. In 2024 the bank delivered a Profit before tax of £31 million. Return On Equity returned to trend at 19.9%, following the prior year’s 39.9%, which was flattered by rises in base rates.
The mortgage book decreased slightly due to lower completions in the year of £167 million (2023 was £375 million).
There were just 23 mortgages in any form of arrears at year end, representing around 1 in 330 accounts. There were just 10 arrears cases of three months and over.
Our savings products were recognised for an historic fourth consecutive year at the Moneyfacts Consumer Awards, for ‘Best Offshore Account Provider’ and we are proud two times winners of the Mortgage Introducer ‘Top Mortgage Employer’ Award. Customer service has always been at the heart of our ethos, and we proudly maintained our Feefo Platinum ‘Trusted Provider’ status for the sixth time.
Financial Summary
The below graphs summarise Skipton International’s major assets and financial figures, demonstrating the solid, sustained performance of the bank.
| Year / £m | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Savings Balances | £1,937 | £2,051 | £2,196 | £2,446 | £2,418 |
| Mortgage Balances | £1,598 | £1,734 | £1,864 | £2,105 | £2,063 |
| Capital | £93 | £98 | £106 | £139 | £152 |
| Total Assets | £2,058 | £2,164 | £2,408 | £2,658 | £2,633 |
| Year / £m | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Total Income | £28.5 | £34.7 | £50.8 | £59.7 | £52.0 |
| Expenses | -£8.6 | -£9.2 | -£10.3 | -£11.9 | -£21.4 |
| Profit before income tax | £19.9 | £25.5 | £39.9 | £47.3 | £31.0 |
| Income Tax | -£2.0 | -£2.5 | -£4.0 | -£4.8 | -£3.1 |
| Profit for the year | £17.9 | £23.0 | £35.9 | £42.5 | £27.9 |
Performance Charts
The following charts show year-on-year performance comparisons.
Total Assets (£bn)
Mortgage Book (£bn)
Gross Mortgage Lending (£m)
Deposits (£bn)
Capital (£m)
Profit Before Tax (£m)
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2024 Results updateDownload our 2024 results pack.2024 Financial Statements -
2023 Results updateDownload our 2023 results pack.2023 Financial Statements