14th Oct 2020 15:38
Arbuthnot Banking Group PLC - private banking - Remains profitable in year-to-date despite ongoing public health restrictions and related suppressed economic activity. Says traded at "marginal loss" in third quarter but still profitable year-to-date after "small" pretax profit in first six months. Customer loan balances stood at GBP1.60 billion at September 30, up 3% on a year ago, with deposit balances up 14% to GBP2.23 billion. Assets under management closed the quarter at GBP1.1 billion, representing an increase of 4% compared to the prior year.
"Currently, the group remains on track to meet the forecast market expectations of a small overall loss for the year. This remains dependent on no significant declines in the valuations of the group's investment and repossessed properties and also the continued credit trends in the lending portfolios," says Arbuthnot.
Current stock price: 715.00 pence
Year-to-date change: down 47%
By Lucy Heming;Â [email protected]
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