9th May 2019 18:31
LONDON (Alliance News) - Arbuthnot Banking Group PLC on Thursday said its year has been positive so far with customer loans and deposits both up.
"The group has made a positive start to the year, customer loans and deposits at the end of April have increased by 13% and 18% respectively compared to the same time last year," said Arbuthnot Chair Henry Angest.
Speaking at the company's annual general meeting, Angest expressed the company's commitment to its "risk and return methodology" in the face of competitive lending markets.
At the end of April, Arbuthnot Direct had opened 161 term savings accounts, which raised GBP9 million of deposits and was ahead of expectations. Its Specialist Finance business is to become fully operational in the third quarter of 2019 and a soft launch is progressing.
"The group continues its diversification programme, and we expect this to develop further throughout the remainder of the year," said Angest.
Shares in Arbuthnot closed down 1.9% at 1,330.00 pence on Thursday.
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