Business financier Skipton Business Finance sees record £1.8bn turnover of its clients
Skipton Business Finance, part of the Skipton Building Society group, has today seen a record £1.8bn in the combined turnover of their client portfolio in 2022.
In a year of significant turbulence within UK financial markets, which saw the Bank of England’s bank base rate increase to 3.50% and inflation climb above 10%, Skipton Business Finance said that more businesses were turning to the Skipton-based financier for increased levels of funding to support the record client turnover.
The company, who has offices across the UK, has seen a 22% growth in total client facilities – £366.4m in 2022, from £300.3m in 2021.
Greg Bell, managing director, said: “Although the UK economy is facing turbulent and uncertain times, we have seen a record in the combined turnover of our client portfolio, indicating that our clients are going from strength to strength.”
He added: “We are proud to be supporting this record client turnover by overseeing a 22% increase in the total amount of facilities we have made available to our clients.”
Part of the Skipton Building Society, one of the UK’s oldest and most trusted financial institutions in the UK, Skipton Business Finance has also seen a record profit-before-tax of £7.3m in 2022.
“We have a committed approach to helping both our clients, some of whom have accessed government-backed loans via the British Business Bank, and new UK SME businesses in the post-pandemic and now the turbulent era we find ourselves in,” said Greg.
“When entrepreneurs build businesses, it affects every part of the economy. By championing UK-based businesses, this creates employment that has a positive knock-on effect on our communities and people’s standard of living, ultimately helping people save for their future and own their own homes – an ethos we share with our parent, Skipton Building Society,” Greg concluded.
In addition, the business posted a client satisfaction rate of 98.44% in 2022, up from 98.42% in 2021.
