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| Type | Mutual |
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| Founded | 1 May 1853 |
| Headquarters | Skipton, England, UK |
| Key people | John Goodfellow, Chief Executive |
| Industry | Financial services |
| Products | Financial services |
| Net income | £126.6 million GBP (December 2007),  11.9% on 2006 |
| Total assets | £12.5 billion GBP (December 2007), 18.3% on 2006 |
| Website | www.skipton.co.uk |
The Skipton Building Society is the sixth largest building society) in the United Kingdom(also known as a mutual lending and savings organisation as it is owned by the members).1
It is a member of the Building Societies Association.
The Society was established in 1853 in Skipton, North Yorkshire. The headquarters are still in Skipton. Assets are over £13.4bn. It is the UK's 6th largest building society with over 660,000 members, 84 branches and reported a pre-tax profit of £44.1 million for the half-year to 30 June 2008. 2 The Society has 19 subsidiary companies, mostly in the financial services industry. Together they form the Skipton Group of companies.
Merger Proposal
Proposed Merger, the boards of Skipton Building Society and Scarborough Building Society on the 3rd of November 2008 announced that they have agreed heads of terms for a merger. It is proposed that by the first quarter of 2009 the merger will be completed.3
The Scarborough Building Society has encountered difficult trading conditions which have had a significant impact on profitability and a weakening of the societies resources as a consequence. As a result the board of The Scarborough has concluded that the effect of continuing UK house price instability and the growing prospect of recession, the best way to fully protect ts members interests it should approach Skipton Building Society as its preferred merger partner. The enlarged Society will be one of the top 5 building societies in th UK with approximately 860,000 members and over £16bn of assets.4
It has been proposed that David Cutter will become chief executive of the enlarged Society, which will be called the "Skipton Building Society" with the Joint headquarters at The Bailey, in Skipton. It has been announced that, the current chief executives John Goodfellow and John Carrier, will retire on 31 December 2008, as already planned.
References
- ^ http://www.skipton.co.uk/about_us/pdfs/report_accounts_2006.pdf 2006 Report and Accounts
- ^ http://www.skipton.co.uk/about_us/pdfs/halfYearlyResults2008.pdf 2008 Half yearly reports
- ^ http://www.scarboroughbs.co.uk/news/2008/merger.html Scarborough BS Merger news
- ^ http://www.skipton.co.uk/scarborough/pressRelease.aspx Skipton BS Merger news
External links
- Skipton Building Society
- The Skipton Group
- Building Societies Association
- KPMG Building Societies Database 2008
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