Mortgage book also grew with completions increasing to £467 million
Offshore bank Skipton International has announced pre-tax profits of £39.9 million in 2022 – a 56% increase compared with its 2021 annual profits of £25.5 million before tax.
The bank’s return on equity exceeded 30% for the first time at 36.6% and, while impacted by rises in base rates, still represented strong underlying growth from the previous year’s 25%.
During the year, Skipton’s mortgage book grew with completions increasing to £467 million from £376 million in 2021.
Its mortgage book also performed well, with only nine accounts in any form of arrears at year end, representing less than one in 900 mortgages.
“I am pleased to be able to present these results on behalf of Skipton International,” Jim Coupe (pictured), the bank’s managing director, said. “In a year that had its moments of turbulence in the financial markets, I would like to thank my colleagues at Skipton for their hard work and exemplary focus on customer service.”
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. The Guernsey-licensed bank was named as one of the Top Mortgage Employers by Mortgage Introducer in 2022.
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