StockMarketWire.com - Secure Trust Bank said it was mulling raising more capital, while telling investors there had been 'no material change' to the underlying performance of its business in the first fourth months of 2018.

The bank said it was exploring ways to optimise its capital base and cost of capital, given recent growth in its balance sheet.

'This could include raising additional Tier 1 and/or Tier 2 capital, subject to market conditions and the board determining that it is in the interest of the bank to do so,' chairman Lord Forsyth said in speech notes for the group's annual general meeting.

Forsyth said earnings so far this year were in line with management expectations.

'Excellent progress has been made in the first four months in converting the new business pipeline into deals written,' he said.

New lending across the group's SME and consumer finance portfolios had been 'strong', he added, while credit quality was as expected.

'The current economic outlook remains uncertain. Therefore the bank will continue to adopt a cautious stance in respect of its credit risk appetite,' he said.

'The board continues to see potential to grow the bank's lending portfolio in line with its ambition and has a clear growth strategy and a pipeline of organic and external new business opportunities.'


At 2:09pm: [LON:STB] Secure Trust Bank PLC share price was -2.5p at 1967.5p



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