Performance
2020 was another successful year for Skipton. Despite the challenges of Covid-related lockdowns across the world, mortgage and deposit growth continued, with strong profit performance maintained in a new record low base rate environment. Skipton delivered a profit before tax of £19.9m and deposit growth of £293m.
The mortgage book performed very well, with only six cases in any form of arrears at the end of December 2020, representing less than 1 in 1,000 mortgages. Skipton’s mortgage team helped 870 new mortgage customers achieve their home owning aspirations during 2020 and saw mortgage balances increase by £161m across Guernsey, Jersey and the UK.
Our 2020 Results Pack and latest accounts are available on request. Please email info@skiptoninternational.com
Financial Summary
The below graphs summarises Skipton International’s major assets and financial performance, demonstrating the solid, sustained growth of the bank.
Year / £m | 2018 | 2019 | 2020 | Half Year 2021 |
Savings Balances | £1,524 | £1,645 | £1,936 | £1,973 |
Mortgage Balances | £1,310 | £1,437 | £1,598 | £1,662 |
Capital | £76 | £86 | £93 | £96* |
Total Assets | £1,605 | £1,743 | £2,058 | £2,054 |
*Unaudited year to date profit.
Year / £m | 2018 | 2019 | 2020 | Half Year 2021 |
Total Income | £26.8 | £26.9 | £28.5 | £16.0 |
Expenses | -£6.8 | -£7.7 | -£8.6 | -£4.5 |
Profit before income tax | £20.0 | £21.2 | £19.9 | £11.4 |
Income Tax | -£1.8 | -£2.0 | -£2.0 | -£1.2 |
Profit for the year | £18.2 | £19.2 | £17.9 | £10.2 |