Last checked at 4 May 2016 15:20
4 May 2016
SECURE TRUST BANK PLC
Annual General Meeting Statement 2016
The Board of Secure Trust Bank PLC (the 'Bank') announces that shareholders approved all the resolutions proposed at the Annual General Meeting of Secure Trust held today Wednesday 4 May 2016.
At the meeting the Chairman, Sir Henry Angest, made the following statement:
"The STB Group has made good progress during the first few months of the year. The completion on 13 April 2016 of the sale of the Everyday Loans business has generated a substantial net profit which has benefited capital and liquidity.
"The continuing business divisions are developing as planned. During the first quarter of the year Motor Finance and Retail Finance have delivered higher new business volumes compared to the same period in 2015. In the SME lending market we continue to see strong demand for our products with the Commercial Finance and Asset Finance businesses performing in line with management's expectations. As previously disclosed, the Bank has taken a more cautious approach to lending to the residential development sector ahead of the EU referendum vote.
"The Bank continues to work on a diverse pipeline of business development opportunities. With very strong capital and funding positions we believe we are well positioned to make further positive progress during the year."
-ENDS-
Enquiries:
Secure Trust Bank PLC Sir Henry Angest, Non-Executive Chairman Andrew Salmon, Non-Executive Director
|
Tel: 020 7012 2400 |
Paul Lynam, Chief Executive Officer Neeraj Kapur, Chief Financial Officer
| Tel: 0121 693 9100 |
David Marshall, Director of Communications | Tel: 020 7012 2400 |
Canaccord Genuity Limited (Nominated Adviser & Broker) Sunil Duggal |
Tel: 020 7665 4500 |
Roger Lambert | |
Stifel Nicolaus Europe Limited (Financial Advisor & Broker) Robin Mann Gareth Hunt |
Tel: 020 7710 7600 |
Bell Pottinger (Financial PR) Ben Woodford Dan de Belder |
Tel: 020 3772 2566 |