Pre-tax profits for the mutual were however down 37% to £22.2m for 2011 compared to £35.0m in 2010.
Its estate agency division Connells reported pre-tax profits of £35.8m down from £48.1m in 2010.
Skipton’s mortgage services division HML made an operating profit of £0.2m.
Skipton however said that restructuring costs aimed at repositioning the business to take advantage of future opportunities resulted in a net pre-tax loss of £3.1m compared to a £0.1m profit in 2010.
David Cutter, chief executive of Skipton Group, said: “I am pleased to report another robust financial performance from Skipton.
“We continue to react well to the continuing economic challenges while helping our members to achieve their saving and homeownership aspirations, in line with our mutual commitment.”
