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.

Download our 2022 results pack, updated February 2023

Skipton Finance Report 2022

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)