13th May 2015 14:38
LONDON (Alliance News) - Secure Trust Bank PLC is "well positioned" for further progress in 2015, after trading "well" in the year so far, Chairman Henry Angest said on Wednesday.
Angest, who was speaking at the lender's annual meeting of shareholders, said new lending volumes grew in the first few months of the year.
"Our consumer finance businesses continue to make significant progress compared to the same period in 2014. Relative to Q1 2014 new lending volumes in Retail Finance and Motor Finance have grown by 121% and 22%, respectively," Angest said.
The chairman said there was strong demand in the lending market for small and medium-sized enterprises.
"Momentum is building in line with management expectations and lending balances now exceed GBP200 million. Secure Trust Bank Real Estate Finance has a significant pipeline of new business opportunities. The commercial finance and asset finance businesses continue to develop as planned," Angest said.
The chairman said the lender is working on a "diverse pipeline of business development opportunities".
"With strong capital and funding positions we believe we are well positioned to make further positive progress during the year," Angest said.
Secure Trust shares were down 1.0% at 2,840.00 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Secure Trust