Secure Trust Bank: Poised To Benefit From Uncertain Times
Edison | Aug 02, 2016 08:34AM ET
Now independent with significant capital headroom, Secure Trust Bank (LON:STBS) is seeking a Main Market listing. This will leave it particularly well-placed to take opportunities for both organic and inorganic growth in what may be a period of elevated uncertainty as the UK negotiates its exit from the EU.
In its interim results STB showed strong growth, despite taking a more cautious stance in areas of its business before the EU referendum.
Interim results
In the first half, loan book growth of 51% since the same period last year fed into an increase in continuing operating income of 34% and a 54% rise in underlying profit before tax to £17.4m. The sale of Everyday Loans Group (ELG) realized a profit of nearly £117m, prompting a special dividend of 165p and contributing significantly to the £209m uplift in shareholders’ equity since STB’s IPO in 2011 (see page 2).
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Secure Trust Bank - Poised To Benefit From Uncertain Times
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