5th Aug 2021 18:11
Secure Trust Bank PLC - UK retail and commercial bank - For the six months ended June 30, pretax profit rises sixfold to GBP30.7 million from GBP5.1 million the same period a year before.
Net interest income declined 5.9% year-on-year to GBP73.5 million from GBP77.9 million due to a reduction in average lending. Fee and commission income also dropped 4.3% to GBP6.7 million from GBP7.0 million.
However, new business lending volumes grew 28% year-on-year to GBP624.9 million from GBP487.9 million, as total customer numbers increased 0.6% to 1.55 million from 1.54 million.
Common equity tier 1 ratio rises to 14.2% from 13.5%. Declares interim dividend of 20 pence per share, compared to none the year before as a result of economic uncertainty.
Looking ahead, expects pretax profit for 2021 to be above current market expectations.
Current stock price: 1,315.00 pence
Year-to-date change: up 50%
By Dayo Laniyan; [email protected]
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