StockMarketWire.com - Arbuthnot Banking Group posts a record profit before tax of £22.5m for the year ti the end of Decemeber - a 43% increase on 2013.
Underlying profits rose to £30.6m (2013: £18.5m) and operating income grew by 26% to £126.3m (2013: £100m). Customer lending exceeded £1bn for the first time; 2014 £1.1bn (2013: £732m).
Arbuthnot Latham - the private banking arm - reports profit before tax of£3.6m (2013: £7.7m which included a £6.5m gain on sale of Wilson Street, the Group's offices). Customer loans were up 57% to £536.0m (2013: £341.0m).
Secure Trust Bank - the retail banking arm - reports profit before tax of £26.3m (2013: £17.2m). Customer lending balances increased by 59% to £622m (2013: £391m). Total customer numbers increased to 429,507 (2013: 350,861).
Chairman and chief executive Henry Angest said: "This has been another good year for the Group with it reporting record profits. Customer lending across the Group has been particularly strong and has now exceeded £1.1 billion. Over the recent past Secure Trust has remained the Group's main focus of strategic investment while Arbuthnot Latham has also been growing well. The Group has now generated additional capital and is well positioned further to support this growth."
Story provided by StockMarketWire.com
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