Skipton Building Society assets up 10.5% to £21bn

David Cutter

Skipton Building Society said its 2017 group profit before tax increased 18.5% to £200.1 million and the society continued to grow with a 58,657 increase in members to 919,060.

Skipton said its mortgage balances grew by £1.3 billion to £16.8 billion, savings balances grew by £900 million to £15 billion, and group total assets increased by 10.5% during the year to £21 billion.

David Cutter, Skipton’s group chief executive, said: “Today’s results show that 2017 was another year of strong performance for Skipton Building Society, and further demonstrated that our 164-year-old core purpose of helping more people into homes and helping people save for their life ahead is still as relevant today as it was when we were founded.

“In 2017 we enabled more people to save for their future and finance their own home than we ever have before.

“We were the first, and to date only, financial services provider to launch a cash Lifetime ISA, enabling 50,590 people to invest in their future by saving for their first home or for their life ahead.”