- Arbuthnot Banking reported a rise in asset under management in the third quarter of the year as loan activity was boosted by an increase in customer deposits.

For the three months to 30 September 2021, assets under management grew 7% £1,313m from the June quarter.

Customer loans and leased assets totalling £1,973 million as at 30 September 2021, up 6% increase since 30 June 2021.

'The global microchip shortage remains a challenge that is slowing the rate of growth at both asset alliance and renaissance asset finance as vehicle supply is constrained,' the company said.

'The group is currently operating with strong levels of capital and liquidity, and along with a workforce that delivered high performance over the previous 18 months with no staff furloughed, means the Group is positioned well to capitalise on opportunities across all of its businesses,' it added.

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