Performance
Skipton had a robust half year, with a Profit before Tax of £18m and Return on Equity at 23%.
The mortgage book performed well despite market conditions, with the current book standing at £2,176m. This was split between Channel Island lending at £831m and UK lending at £1,345m. Arrears stand at just 1 in 400 mortgages.
Our savings products were recognised for an historic third 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 fifth 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 | HY 2024 |
|---|---|---|---|---|---|
| Savings Balances | £1,937 | £2,051 | £2,196 | £2,446 | £2,346 |
| Mortgage Balances | £1,598 | £1,734 | £1,864 | £2,105 | £2,176 |
| Capital | £93 | £98 | £106 | £139 | £156 |
| Total Assets | £2,058 | £2,164 | £2,408 | £2,658 | £2,684 |
| Year / £m | 2020 | 2021 | 2022 | 2023 | HY 2024 |
|---|---|---|---|---|---|
| Total Income | £28.5 | £34.7 | £50.8 | £59.7 | £27.8 |
| Expenses | -£8.6 | -£9.2 | -£10.3 | -£11.9 | -£9.4 |
| Profit before income tax | £19.9 | £25.5 | £39.9 | £47.3 | £18.0 |
| Income Tax | -£2.0 | -£2.5 | -£4.0 | -£4.8 | -£1.5 |
| Profit for the year | £17.9 | £23.0 | £35.9 | £42.5 | £16.3 |
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)
Download our 2023 Financial Statements
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2024 half year results updateDownload our 2024 half year results pack.Skipton Finance Report June 2024