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Hampshire Trust Bank profit more than doubles as bank continues to grow
Hampshire Trust Bank profit more than doubles as bank continues to grow
Published by Gbaf News
Posted on May 11, 2018
Global Banking and Finance Review
Company
Published by Gbaf News
Posted on May 11, 2018
Results for the year ended 31 December 2017
Highlights
Hampshire Trust Bank has reported a pre-tax profit on continuing activities of £9.9m for the year ending 31 December 2017, a £5.5m increase compared to 2016
Lending assets at the specialist bank increased by 36% to £632.3m (2016: £463.5m) and customer deposits by 14% to £596.3m (2016: £523.3m). In addition, the bank announced that customer numbers increased to 19,600, a 20% increase on numbers at the end of 2016.
The announcement follows the appointment of Matthew Wyles as the bank’s new Chief Executive Officer on 23 April 2018.
Matthew Wyles said: “The bank delivered a strong financial performance in 2017 with solid growth across the board. Whilst obviously our business needs to grow further, we will continue to focus on ensuring that this growth is controlled and sustainable.”
“Central to our mission is to deliver consistently positive customer experience and outcomes. To this end we will invest relentlessly in our infrastructure, processes and technology to ensure that the business is standing on a stable, flexible and scalable platform.”
“Our developing franchise in the markets we serve will rely on a strategy of differentiation through excellence and expertise. This means that the quality, commitment and capabilities of our people are central to our future success and we will position the bank as a magnet for the brightest and best.”
Each of Hampshire Trust Bank’s specialist SME lending businesses delivered significant growth:
Key financial and performance information:
Results for the year ended 31 December 2017
Highlights
Hampshire Trust Bank has reported a pre-tax profit on continuing activities of £9.9m for the year ending 31 December 2017, a £5.5m increase compared to 2016
Lending assets at the specialist bank increased by 36% to £632.3m (2016: £463.5m) and customer deposits by 14% to £596.3m (2016: £523.3m). In addition, the bank announced that customer numbers increased to 19,600, a 20% increase on numbers at the end of 2016.
The announcement follows the appointment of Matthew Wyles as the bank’s new Chief Executive Officer on 23 April 2018.
Matthew Wyles said: “The bank delivered a strong financial performance in 2017 with solid growth across the board. Whilst obviously our business needs to grow further, we will continue to focus on ensuring that this growth is controlled and sustainable.”
“Central to our mission is to deliver consistently positive customer experience and outcomes. To this end we will invest relentlessly in our infrastructure, processes and technology to ensure that the business is standing on a stable, flexible and scalable platform.”
“Our developing franchise in the markets we serve will rely on a strategy of differentiation through excellence and expertise. This means that the quality, commitment and capabilities of our people are central to our future success and we will position the bank as a magnet for the brightest and best.”
Each of Hampshire Trust Bank’s specialist SME lending businesses delivered significant growth:
Key financial and performance information: