Secure Trust Share Price (STB)

.wealthoracle.co.uk/company-results

Secure Trust Bank, the specialist lender, said it remains on track to achieve full-year 2026 guidance after a Q1 to 31 March 2026 of disciplined progress. Continuing net lending balances grew 1.5% in the quarter and 6.6% year on year. Retail Finance had a broadly stable quarter, up 7.3% year on year and driven by a strong performance in Furniture, while Business Finance grew 3.0% in the quarter and 6.1% year on year, supported by its new Bridging product. New product initiatives gained traction, with key roles fully recruited, technology development progressing and lending activity now underway across a building pipeline. Interim results for H1 2026 are due on 13 August 2026. Vs consensus: No quarterly profit numbers are disclosed in a Q1 lending update; the Group reaffirms it is on track for full-year 2026 guidance of 8-10% continuing net lending growth, around a 10bps risk-adjusted margin improvement and a CET1 ratio of approximately 13.5%. Verdict: IN-LINE

.wealthoracle.co.uk/company-results

Secure Trust Bank will be presenting on our Mello Monday 13th April around 6pm (subject to minor change). Ian Corfield (CEO) will be providing a short presentation to introduce STB to Mello and will then be available for plenty of questions.

Tickets and more details available via our website. Use code LSE40 for 40% off the webinar.

Secure Trust Bank recently hosted a presentation of its 2025 Annual Results, followed by an Investor Update outlining the group’s new strategy and medium-term targets.

Watch the highlights here: https://www.piworld.co.uk/company-videos/secure-trust-bank-stb-2025-annual-results-investor-update-highlights-march-2026/

Watch the presentation here: https://www.piworld.co.uk/company-videos/secure-trust-bank-stb-2025-annual-results-presentation-investor-update-march-2025/

Listen to the highlights here: https://share.transistor.fm/s/67de562f

Listen to the presentation here: https://share.transistor.fm/s/5e1215c7

Very good results from STB and the shares are still very undervalued

Basic EPS for 2025 of about £2.40 giving a PE of only 5.5

Market Screener has a forecast EPS of £2.95 for 2026 giving a PE of 4.5 and a forecast EPS of £3.35 for 2027 giving a PE of 4

So with a PE of 4 it is very undervalued compared to other UK banks

NTAV has also increased by about 6% to almost £20

So price to NTAV is about 0.65

Growth of over 8% in lending and growth of over 8% in customer deposits

Cost to income ratio has also reduced by over 2%

Share buyback of £10 million or about 4% of Market Cap

Vehicle Finance business has also now been sold to simplify the business

Strategy for STB is now targeted towards growth and higher returns

With a forecast EPS of about £3 for this year, a more reasonable PE of 8 would give STB a share price of £24

It has gone through as expected, next find out about the liabilities due to misselling and I expect that to come in relatively cheaply without drama.

Up!

Chance of at least buy-backs with the capital raised.