Lending market move key to Skipton International's success

MOVING into the lending market was the catalyst for significant growth for one of Guernsey’s smaller banks.

Jim Coupe

MOVING into the lending market was the catalyst for significant growth for one of Guernsey’s smaller banks.

Skipton International in Guernsey started life in the island in 1995 as a managed bank and offshore deposit taker.

Over the years, as the number of banks in the island has reduced by half, many deposit takers have pulled out of Guernsey – the latest being Clydesdale Bank International, which was announced this week.

Skipton managing director Jim Coupe, pictured, said the decision to enter the local mortgage market in 2002 shaped a new and, it has proved, buoyant period for the bank.

For the past three years it has been the island’s number one for new mortgage lending, with more than 20% of all new residential mortgage bonds issued last year.