Secure Trust Bank PLC Trading Statement (8013Z)
January 15 2020 - 2:00AM
UK Regulatory
TIDMSTB
RNS Number : 8013Z
Secure Trust Bank PLC
15 January 2020
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
15 January 2020
For immediate release
Secure Trust Bank PLC
Pre--Close Trading Update
Secure Trust Bank PLC ("STB" or the "Group") today issues a
pre--close trading update ahead of its annual results announcement
for the year ended 31 December 2019 scheduled for 26 March
2020.
STB has continued to progress its strategic plan with strong
control over the cost of risk and continued investment in the motor
platform. The Group has delivered further revenue and loan book
growth in the second half. This is despite the flat lining of GDP
growth last autumn which dampened demand for consumer and house
building finance across the sector. STB is pleased with its
performance against this backdrop and the full year results are
expected to be in line with management's and the market's
expectations.
The Group has not compromised its lending or pricing disciplines
to drive balance sheet growth and will continue to be selective in
respect of new lending.
In December 2019 the BoE announced an increase in the
countercyclical capital buffer from 1% of risk weighted assets to
2%, with effect from December 2020 and its intention to consult on
offsetting this increase via reductions in variable Pillar 2A add
ons, to ensure the levels of capital in the system stay broadly
unchanged.
The Group is looking ahead to 2020 with cautious optimism. The
PMI survey results published in early January indicate a positive
reaction to the General Election result. This is consistent with a
recovery in UK equity prices and increased market interest in
residential and some classes of commercial property assets.
The Group enters 2020 with strong new business pipelines,
healthy capital and liquidity positions and remains well placed to
pursue its strategic priorities and envisages no material change
for its guidance for 2020.
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Neeraj Kapur, Chief Financial Officer
Mark Stevens, Company Secretary
Tel: 0121 693 9100
Stifel Nicolaus Europe Limited (Joint Broker)
Stewart Wallace
Tel: 020 7710 7600
Canaccord Genuity Limited (Joint Broker)
David Tyrrell
Tel: 020 7523 8000
Tulchan Communications
Tom Murray/Sheebani Chothani
Tel: 020 7353 4200
About the Company:
Secure Trust Bank is an established, well--funded and
capitalised UK retail bank with a 67 year trading track record.
Secure Trust Bank operates principally from its head office in
Solihull, West Midlands, and had 956 employees (full-- time
equivalent) as at 30 June 2019. The Group's diversified lending
portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance, Asset
Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance,
Debt Management and Consumer Mortgages divisions
As at 30 June 2019 the Group's loans and advances to customers
totalled GBP2,278.3 million, customer deposits totalled GBP2,001.5
million and the Group's total customer base was well over 1.4
million.
Secure Trust Bank PLC is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTFZGMMNDNGGZM
(END) Dow Jones Newswires
January 15, 2020 02:00 ET (07:00 GMT)
Secure Trust Bank (LSE:STB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Secure Trust Bank (LSE:STB)
Historical Stock Chart
From Apr 2023 to Apr 2024
