Skipton International delivered strong profitability in 2024, recently announcing profits of £31million before tax. Return on Equity returned to trend at 19.9%, the company also said.
During the year Skipton International’s mortgage book decreased slightly due to lower completions in the year of £167million (2023: £375 million), but the book continues to perform well, said Skipton.
The bank retained its Feefo Platinum Trusted Service Provider award for the sixth consecutive year and won the Moneyfacts Offshore Account Provider of the Year award for the fourth consecutive year.
Skipton is also proud of its Community Fund, which helps smaller charities and good causes across the islands. In addition, its major sponsorships and PR initiatives such as the Skipton Swimarathon, the Boxing Day Dip, and this year’s inaugural Big Skipton Sleep Out see its profits put to good use in the communities in which it operates from, said Jim Coupe, Skipton’s Chief Executive Officer.
“The bank’s success is due to the loyalty of our customers and colleagues, and I would like to thank them all,” he said.
“In a year that had its moments of turbulence in the financial markets my colleagues at Skipton deserve special recognition for their hard work and exemplary focus on customer service at all times. Skipton International’s niche offering of Channel Island residential and Buy-To-Let mortgages, UK Buy-To-Let mortgages for expats and overseas residents and a range of offshore savings accounts is robust and ensures we stay a firm favourite with our customers.
“As previously announced, I will shortly be stepping down as Chief Executive Officer after 14 years at the bank, which I have felt privileged to serve. I send my successor my very best wishes and am pleased to be handing over the business with such strong financial news.”