In the first six months of the year, it achieved profits of £18m.
Mortgages have sustained the local bank's performance with 2022 lending up to end of September at £334m., compared to £376m. for the full year in 2021. A range of US dollar accounts were also introduced during Q3, increasing opportunities for saving customers.
Despite ongoing challenges with interest rates worldwide, Skipton has managed to offer a recent mortgage rate reduction and there are only 0.5 in 1,000 Skipton mortgages in any form of arrears.
‘This is an extremely strong set of results, and Skipton is on course for a record-breaking 2022,’ said managing director, Jim Coupe.
‘It’s not been possible, however, without Skipton’s exceptional employees. My colleagues constantly amaze me with their knowledge, efficiency and resilience.
‘There have been external challenges this year and each and every one of them has more than risen to the occasion, always putting the customer first.
‘Skipton’s business model has, once again, been proven to be robust.’
An additional £20,000 was donated to its Community Fund this year, to help support smaller Channel Island good causes and charities.
The bank also won Moneyfacts ‘Offshore Bank Account Provider of the Year’ award 2022, and was a finalist in the Chartered Institute of Public Relations awards, with the focus on customer service excellence, ensuring a retention of the Feefo Platinum Trusted Service Provider award.