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HARDMAN & CO RESEARCH Hardman & Co Research: Arbuthnot Banking Group (ARBB): 1H'19 results: diversified, low-risk growth continues

Directive transparence : information réglementée

29/07/2019 16:35

Hardman & Co Research
Hardman & Co Research: Arbuthnot Banking Group (ARBB): 1H'19 results: diversified, low-risk growth continues

29-Jul-2019 / 15:35 GMT/BST


Hardman & Co Research: 1H'19 results: diversified, low-risk growth continues

The 17 July 1H'19 results showed the further progress made in profitably deploying the capital ABG generated from the partial sales of its stake in STB. Loans grew 16% to £1,275m, and deposits increased 18% to £1,829m, driving net interest income up 15%. Other new businesses continue to show strong growth. Commercial Banking generated profits of £3m (1H'18 loss: £0.8m). The group is well-funded (loans 70% of deposits) and has surplus group capital of ca.£70m (core equity Tier 1 surplus in excess of £30m). In July, ABG announced the acquisition of two mortgage portfolios for £258m; this shows the company's flexibility to take value-added acquisition opportunities.

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https://www.hardmanandco.com/research/corporate-research/1h19-results-diversified-low-risk-growth-continues/

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848311  29-Jul-2019 

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