Last checked at 21 Feb 2017 07:00
21 February 2017
Arbuthnot Banking Group PLC
Pre Close Trading Update
Arbuthnot Banking Group PLC ("Arbuthnot" or "the Group") today issues a pre close trading update ahead of its Preliminary results announcement for the year ended 31 December 2016, which is scheduled for 23 March 2017.
The Group continued its development as anticipated in the fourth quarter of 2016 and therefore expects to report pre-tax profits in line with market expectations.
As previously announced in December 2016, the Group completed the purchase of the Duncan Lawrie loan portfolio. This has now been successfully transferred to Arbuthnot Latham.
In December the Group also announced that it had reached an agreement to acquire Renaissance Asset Finance ("RAF"), which was subject to approval of the change of control application by the Regulatory Authorities. One of these approvals has now been received but the completion still remains conditional on the final receipt. However, it is expected that the transaction will be completed before the end of the first quarter of 2017.
Enquiries:
Arbuthnot Banking Group Sir Henry Angest, Chairman and Chief Executive Andrew Salmon, Group Chief Operating Officer James Cobb, Group Finance Director Ian Henderson, Group Director and Chief Executive Arbuthnot Latham
| 0207 012 2400 |
Stifel Nicolaus Europe Ltd trading as KBW (Nomad and Joint Broker) Robin Mann Gareth Hunt Stewart Wallace
| 0207 710 7600 |
Numis Securities Ltd (Joint Broker) Chris Wilkinson Andrew Holloway
| 0207 260 1000 |
Bell Pottinger (Financial PR) Ben Woodford Sam Cartwright
| 0203 772 2500 |