- Arbuthnot Banking reported a rise in profit as loans and deposits grew.

For 2019, pre-tax profit rose to £7.0m from £6.8m and operating income increased by 7% to £72.5m on-year.

The company proposed a second interim dividend in lieu of a final dividend of 21p, an increase of 5% on-year, taking the total dividend 37p, from 35p.

Overall the customer loan balances increased by 31%, while at the same time deposits grew by 22%

The company said it was difficult to give any further guidance for 2020 amid the Covid-19 pandemic, but said it remained well capitalised and holds significant levels of surplus liquidity.

'Overall the board feels we are well positioned to withstand the headwinds that all banks will experience in 2020, and potentially to take advantage of any opportunities as we emerge from this,' said Arbuthnot Banking,

At 9:39am: [LON:ARBB] Arbuthnot Banking Group PLC share price was -7.5p at 740p

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