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, 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.
The post Skipton Business Finance announces record £1.8bn in combined client turnover appeared first on Business Leader.
