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 

 

Total Assets (£bn)

Mortgage Book (£bn)

Gross Mortgage Lending (£m)

Deposits (£bn)

Capital (£m)

Profit Before Tax (£m)