Secure Trust Bank (STB) announced in July the closure and run-off of its Vehicle Finance (VF) business, which would, through reallocation of capital to the more profitable businesses, enhance overall group profitability. STB has announced today a faster Q3 decrease in the VF loan portfolio than anticipated. This, combined with VF impairments remaining elevated, has resulted in a substantial PBT forecast downgrade for FY25 and more modest downgrades for FY26 and FY27. Management remains confident, however, that STB will deliver c.30% pre-exceptional profit growth in FY25.