Member Article

Skipton Building Society puts on a strong performance

Skipton Building Society has reported an impressive performance for the first half of this year, reporting pre-tax profits of £90 million from £28.3 million for the six months ended 30 June 2013, an increase of £61.7 million.

Total income increased from £266.2 million to £344.4million.

This comes after a series of high profile disposals, notably their mortgage services division, Homeloan Management Ltd, for £47.5 million to Bristol-based Computershare Ltd as well as their health insurance arm PHP for an undisclosed sum.

Group chief executive David Cutter said: “The Society has continued to make good progress in growing its customer base, showing above-market growth in both its mortgage and savings balances.

“It has also increased its financial strength with profits and capital further improved, providing current and future members with the reassurance that they are dealing with a solid financial institution with a bright future.

“Significant investment continues to be made in the growth and development of the Society, the products and services we provide, the people who make Skipton what it is, and the communities in which we operate.”

This was posted in Bdaily's Members' News section by Clare Burnett .