Skipton International has delivered another strong set of half year results, announcing 2022 half year unaudited profits of £18 million before tax.
This compares favourably to the 2021 half year profits of £11.4 million, a 57% increase. The bank has assets in excess of over £2.18 billion.
During the first six months of the year, Skipton International’s gross mortgage lending also increased, to £208 million, compared to £176 million for the same period in 2021, a growth of 18%. The bank recorded no mortgage arrears cases of three months or more.
Jim Coupe, Skipton’s Managing Director, said: “The majority of our mortgage growth was the result of a very buoyant property market across the UK and Channel Islands, and this shows little sign of abating. Our carefully managed product offerings – both mortgage and savings – and the hard work of the whole Skipton team has ensured we were able to manage the level of business received and continue to offer high service levels.
“In addition to announcing these figures, and given the significant rise in the cost of living, I am delighted to announce that a one-off payment of £1,500 is being made to all colleagues at Skipton International in September.”
Skipton International offers Channel Island residential and Buy-To-Let mortgages, UK Buy-To-Let mortgages for overseas residents and a range of offshore savings accounts.