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Update on third quarter trading

21 Oct 2010 07:00

RNS Number : 7438U
Arbuthnot Banking Group PLC
21 October 2010
 



ARBUTHNOT BANKING GROUP PLC

("Arbuthnot" or "the Group")

Update on Third Quarter Trading

 

 

21 October 2010

 

 

Arbuthnot Banking Group today issues an update on trading for the three months from 1 July 2010 to 30 September 2010.

 

 

Retail Banking

Secure Trust Bank performed well during the quarter, with good progress in motor finance and prepaid current account operations. Results for this quarter continued to be affected by the cost of carrying significant surplus deposits, despite reducing headline deposit interest rates, and by the costs associated with the restructuring of the management team. Paul Lynam was appointed as chief executive officer of Secure Trust Bank on 13 September 2010.

 

Private Banking

Arbuthnot Latham is trading strongly and is taking advantage of the opportunities created by market conditions to improve both its assets and its client base. Gilliat Financial Solutions, our structured products business, is continuing to progress.

 

Investment Banking

Market conditions deteriorated sharply in the third quarter, leading to difficult trading for Arbuthnot Securities. Commission income was also impacted by the general decline in market volumes.

 

Nevertheless, Arbuthnot Securities remains profitable for the year to date and the corporate finance pipeline for the fourth quarter is encouraging, although completion of transactions is, as ever, dependent on market conditions and other factors.

 

 

ENQUIRIES:

Arbuthnot Banking Group

020 7012 2400

Henry Angest, Chairman and Chief Executive

Andrew Salmon, Chief Operating Officer

James Cobb, Group Finance Director

Hawkpoint Partners Ltd (Nominated Advisor)

020 7665 4500

Lawrence Guthrie

Sunil Duggal

Numis Securities Ltd (Broker)

020 7260 1000

Chris Wilkinson

Mark Lander

Pelham Bell Pottinger (Financial PR)

020 7861 3881

Dan de Belder

Zoë Pocock

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTPGGBUUUPUGMU
Date   Source Headline
22nd Oct 20084:56 pmRNSTransaction in Own Shares
22nd Oct 20087:00 amRNSTrading Statement
20th Oct 20085:31 pmRNSTransaction in Own Shares
14th Oct 20085:03 pmRNSTransaction in Own Shares
13th Oct 20081:12 pmRNSDirector/PDMR Shareholding
10th Oct 20085:13 pmRNSTransaction in Own Shares
9th Oct 20085:26 pmRNSTransaction in Own Shares
8th Oct 20086:05 pmRNSTransaction in Own Shares
7th Oct 20084:56 pmRNSTransaction in Own Shares
6th Oct 200811:45 amRNSDirectorate Change
16th Sep 20084:58 pmRNSTransaction in Own Shares
15th Sep 20085:37 pmRNSTransaction in Own Shares
30th Jul 20087:00 amRNSInterim Results
1st Jul 20087:00 amRNSDirectorate Change
4th Jun 20083:13 pmRNSDirector/PDMR Shareholding
2nd Jun 20081:10 pmRNSArbuthnot Latham new agreemen
2nd Jun 200812:32 pmRNSDirectorate Change
29th May 20082:50 pmRNSESOP Share Purchase
29th May 20082:30 pmRNSDirector/PDMR Shareholding
27th May 200810:20 amRNSAdditional Listing - Scrip Di
23rd May 200812:58 pmRNSDirector/PDMR Shareholding (R
22nd May 20085:35 pmRNSDirector/PDMR Shareholding
22nd May 20085:23 pmRNSDirector/PDMR Shareholding
15th May 200810:27 amRNSDisposal
14th May 20084:39 pmRNSResult of AGM
14th May 20082:30 pmRNSAGM Statement
24th Apr 200810:42 amRNSPurchase of Share by ESOP
4th Apr 20082:18 pmRNSNotice of AGM
31st Mar 20085:01 pmRNSHolding(s) in Company
13th Mar 20087:01 amRNSFinal Results
15th Jan 20084:07 pmRNSDirectorate Change
11th Jan 20087:00 amRNSTrading Statement
29th Nov 200712:54 pmRNSDirector/PDMR Shareholding
18th Sep 20077:02 amRNSInterim Results
5th Sep 20079:30 amRNSDirectorate Change
16th Aug 20072:50 pmRNSAIM Rule 26
12th Jul 20071:41 pmRNSDirector/PDMR Shareholding
3rd Jul 20079:33 amRNSPre-Close Trading Update
19th Jun 20077:02 amRNSRandgold - Jt Broker Appt
7th Jun 200711:32 amRNSDirector/PDMR Shareholding
22nd May 20074:57 pmRNSAGM Statement
17th Apr 20071:42 pmRNSDirector/PDMR Shareholding
11th Apr 20074:33 pmRNSAnnual Report & Accounts
22nd Mar 20073:04 pmRNS2005Comparative Supplementary
20th Mar 20077:02 amRNSArbuthnot joins DIFX
20th Mar 20077:02 amRNSFinal Results
13th Mar 20074:45 pmRNSAnalyst Recruitment
22nd Feb 20074:45 pmRNSHolding(s) in Company
12th Feb 20074:00 pmRNSHolding in Company
6th Feb 20073:18 pmRNSDirectorate Change

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