Arbuthnot Banking profits grow as loans, deposits rise
Source - SMW
Arbuthnot Banking Group said Tuesday half yearly profit before tax rose to £3.5m compared to £2.5m in the prior year, as both customer loans and deposits grew by a quarter.
For the six months to 30 June, underlying profit before tax rose to £4.2m, from £3.2m, and net assets rose to £235m, from £234m.
The upbeat performance was supported by a 25% increase in both customer loans and deposits to £1.097m and £1.547m, respectively.
The recently launched asset based lending business was trading ahead of schedule as the first client loan was funded in May, the company said.
At 9:53am: (LON:ARBB) Arbuthnot Banking Group PLC share price was 0p at 1610p