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Update on third quarter trading

18 Oct 2012 07:01

RNS Number : 9451O
Secure Trust Bank PLC
18 October 2012
 



PRESS RELEASE

For immediate release

Date: 18 October 2012

 

 

Secure Trust Bank PLC

 

Update on third quarter trading

 

 

Secure Trust Bank PLC ("STB") traded well during the quarter ending 30 September 2012. Demand for lending and deposit products remained strong. Cycle finance in particular has seen positive new business levels undoubtedly as a consequence of the Olympics. The bank continues to enjoy favourable funding conditions. Indeed the most recent deposit raising was successfully concluded after raising over £36 million in the first 8 days in August.

 

STB is progressing an application to be included within the Funding for Lending Scheme and is giving due consideration to the extent, if any, it accesses the discounted funding available, noting it remains highly liquid at this time. In its interim results statement on 26 July 2012 STB reported that, when it released the White Paper on 14 June 2012, the Government signalled that it recognised the competitive challenges facing smaller banks. STB is now engaged with the Government's Banking Reform Team and the Treasury to help them to understand better these issues.

 

In common with other banks, and as previously disclosed, STB is being inundated with entirely spurious claims originated by claims management companies (CMCs). The operational impact of having to respond to huge volumes of baseless claims is an unwelcome distraction.

 

In September 2012 STB became the first bank in the UK to be awarded the Customer Service Excellence Award. This award was introduced by the Cabinet Office in 2010 to replace the former Charter Mark. Then, in October 2012 STB was awarded a 4 star Fairbanking Mark for its current account. These positive achievements mark the culmination of 18 months of hard work to improve the way in which STB interacts with its customers and the quality of the range of services it provides.

 

Everyday Loans has been successfully integrated with the Group. A new branch has now opened in Middlesbrough and others will follow reflecting our growth plans for this business. The costs associated with opening new branches are relatively modest and they typically become profitable within 12 months.

 

STB continues to work on a diverse pipeline of organic and external business opportunities as it progresses its growth strategy.

 

 

 

 

-ENDS-

 

 

 

 

 

 

 

 

Enquiries:

 

Henry Angest, Non Executive Chairman Tel: 020 7012 2400

Andrew Salmon, Non Executive Director

 

Paul Lynam, Chief Executive Tel: 0121 693 9100

Neeraj Kapur, Chief Finance Officer

 

David Marshall, Director of Communications Tel: 020 7012 2400

 

Canaccord Genuity Hawkpoint Limited (Nominated Adviser) Tel: 020 7665 4500

Lawrence Guthrie

Sunil Duggal

 

Canaccord Genuity Limited (Broker) Tel: 020 7523 8000

Roger Lambert

Lucy Tilley

 

Pelham Bell Pottinger Tel: 020 7861 3232

Ben Woodford

Dan de Belder

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTGGGCGUUPPGQM
Date   Source Headline
21st Oct 20107:00 amRNSUpdate on third quarter trading
23rd Sep 201011:08 amRNSDirector/PDMR Shareholding
13th Sep 201011:30 amRNSDirectorate Change
4th Aug 20107:00 amRNSHalf Yearly Report
19th Jul 20103:29 pmRNSNotice of Results
12th May 20104:23 pmRNSAGM Statement
10th May 20105:56 pmRNSDirectorate Change
11th Mar 20105:17 pmRNSStatement re Director
11th Mar 20107:00 amRNSFinal Results
25th Feb 201011:09 amRNSNotice of Results
2nd Feb 20104:04 pmRNSTotal Voting Rights
7th Jan 20104:13 pmRNSTransaction in Own Shares
7th Jan 20107:00 amRNSTrading Statement
22nd Dec 20093:29 pmRNSDirector/PDMR Shareholding
3rd Nov 200910:00 amRNSDirectorate Change
22nd Oct 20097:00 amRNSUpdate on Third Quarter Trading
15th Sep 200912:55 pmRNSDirector/PDMR Shareholding
10th Sep 20092:21 pmRNSDirector/PDMR Shareholding
9th Sep 20092:51 pmRNSDirector/PDMR Shareholding
3rd Sep 200912:54 pmRNSDirector/PDMR Shareholding
3rd Sep 200912:48 pmRNSDirector/PDMR Shareholding
21st Aug 20094:51 pmRNSPurchase of consumer assets
29th Jul 20097:00 amRNSHalf Yearly Report
30th Jun 20094:57 pmRNSTransaction in Own Shares & Total Voting Rights
25th Jun 20095:14 pmRNSTransaction in Own Shares
22nd Jun 200910:15 amRNSStructured Product Distribution Business Launched
2nd Jun 200910:27 amRNSLaunch of Real Estate Fund Management Business
13th May 20094:25 pmRNSAGM Statement
7th Apr 20094:37 pmRNSTotal Voting Rights
2nd Apr 20094:52 pmRNSTransaction in Own Shares
26th Mar 20095:03 pmRNSTransaction in Own Shares
25th Mar 20095:20 pmRNSTransaction in Own Shares
19th Mar 20095:43 pmRNSTransaction in Own Shares
18th Mar 20095:05 pmRNSTransaction in Own Shares
12th Mar 20094:54 pmRNSTransaction in Own Shares
12th Mar 20097:00 amRNSFinal Results 2008
26th Feb 200910:01 amRNSPurchase of Consumer Assets
16th Jan 20098:57 amRNSHolding(s) in Company
8th Jan 20094:59 pmRNSTransaction in Own Shares
19th Dec 20087:00 amRNSTrading Statement
17th Dec 20089:17 amRNSChange of Adviser
27th Nov 20084:57 pmRNSTransaction in Own Shares
24th Nov 20084:50 pmRNSTransaction in Own Shares
19th Nov 20084:50 pmRNSTransaction in Own Shares
14th Nov 20084:58 pmRNSTransaction in Own Shares
13th Nov 20084:55 pmRNSTransaction in Own Shares
10th Nov 20084:14 pmRNSDirector/PDMR Shareholding
5th Nov 20084:46 pmRNSTransaction in Own Shares
4th Nov 20084:54 pmRNSTransaction in Own Shares
27th Oct 20084:57 pmRNSTransaction in Own Shares

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