Arbuthnot Banking Group (ARBB) is in a period of transition following the sale of the Everyday Loans Group (ELG) and shares in Secure Trust (STB). The gains crystallised by these disposals resulted in a first half post-tax profit of £225m and an NAV of 1,852p. Prospectively, balance sheet strength is likely to be used for growth in the Arbuthnot Latham loan book and opportunistic M&A. The current below-book valuation appears cautious in view of the bank’s history of NAV growth
16 Aug 2016
In transition
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In transition
Arbuthnot Banking Group PLC (ARBB:LON) | 1,075 0 0.0% | Mkt Cap: 175.6m
- Published:
16 Aug 2016 -
Author:
Andrew Mitchell -
Pages:
8
Arbuthnot Banking Group (ARBB) is in a period of transition following the sale of the Everyday Loans Group (ELG) and shares in Secure Trust (STB). The gains crystallised by these disposals resulted in a first half post-tax profit of £225m and an NAV of 1,852p. Prospectively, balance sheet strength is likely to be used for growth in the Arbuthnot Latham loan book and opportunistic M&A. The current below-book valuation appears cautious in view of the bank’s history of NAV growth