STB continues to deliver excellent growth, as promised. In H115, 40% growth in statutory pre-tax profits was driven by a 42% revenue increase and smaller cost growth. Loans grew 90% on H114 and deposits by 75%. Impairments remain below management expectations. Strategically, H115 saw the initial payback for investment in the SME business lines. The real estate potential is being realised and is the key driver to SME lending now at c £25m per month (ie + 2% per month growth on H1 closing balance).

31 Jul 2015
Paying back on SME investment

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Paying back on SME investment
Secure Trust Bank Plc (STB:LON) | 852 460.1 6.8% | Mkt Cap: 162.5m
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31 Jul 2015 - Author:
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STB continues to deliver excellent growth, as promised. In H115, 40% growth in statutory pre-tax profits was driven by a 42% revenue increase and smaller cost growth. Loans grew 90% on H114 and deposits by 75%. Impairments remain below management expectations. Strategically, H115 saw the initial payback for investment in the SME business lines. The real estate potential is being realised and is the key driver to SME lending now at c £25m per month (ie + 2% per month growth on H1 closing balance).