Guernsey bank Skipton International reached £1.075 billion of deposits at the end of 2015 - a level that would be equivalent to the 12th largest building society in the UK.

With savings customers in more than 100 countries around the world, the bank has grown its deposits steadily since 2009 when it formed through the amalgamation of Skipton Guernsey and Scarborough Channel Islands.

Jim Coupe, Managing Director, Skipton International, said: "Last year was a great year for Skipton International. By exceeding £1 billion of deposits we have confirmed our position as one of the leading banks in the Channel Islands, and on a par with some of the UK's biggest building societies.

"It is a testament to the confidence our Channel Island and expat customers place in us, as a result of good rates of interest for savers over the long term and our great customer service."

Skipton's team has expanded by 40% in the past three years and the bank will be moving to new offices in Guernsey in the spring.

"The office will serve as a flagship for Skipton in the Channel Islands, providing a much improved customer experience and enable us to look after more customers, not only in the Channel Islands, but the British expats from all over the world who invest their savings and who take out buy-to-let mortgages with us," said Mr Coupe.

Skipton has been the largest provider of new mortgages for house purchases in Guernsey since 2010, and is now the second largest in Jersey following the opening of a Jersey mortgages sales office in 2014.

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