Performance
2022 was another successful year for Skipton.
Skipton had another very good year with strong growth in mortgage lending and profitability. Over 2022 Skipton delivered a Profit before tax of £39.9m, a 56% increase on 2021. 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%.
Skipton’s mortgage book grew strongly with completions increasing to £467m. The mortgage book continues to perform well with only 9 accounts in any form of arrears at year end, representing around 1 in 900 accounts.
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 | 2021 | 2022 |
|---|---|---|---|---|---|
| Savings Balances | £1,524 | £1,645 | £1,936 | £2,051 | £2,196 |
| Mortgage Balances | £1,310 | £1,437 | £1,598 | £1,734 | £1,864 |
| Capital | £76 | £86 | £93 | £98 | £106 |
| Total Assets | £1,605 | £1,743 | £2,058 | £2,164 | £2,408 |
| Year / £m | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Total Income | £26.8 | £26.9 | £28.5 | £34.7 | £50.8 |
| Expenses | -£6.8 | -£7.7 | -£8.6 | -£9.2 | -£10.3 |
| Profit before income tax | £20.0 | £21.2 | £19.9 | £25.5 | £39.9 |
| Income Tax | -£1.8 | -£2.0 | -£2.0 | -£2.5 | -£4.0 |
| Profit for the year | £18.2 | £19.2 | £17.9 | £23.0 | £35.9 |
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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2022 Financial StatementsDownload our 2022 Financial Statements below.Financial Statements 2022