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13 May 2015 15:24
SECURE TRUST BANK PLC
Annual General Meeting Statement 2015
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 13 May 2015.
At the meeting the Chairman, Henry Angest, made the following statement:
"The Bank continued to trade well during the first few months of the year with strong growth in overall new lending volumes.
"Our Consumer Finance businesses continue to make significant progress compared to the same period in 2014. Relative to Q1 2014 new lending volumes in Retail Finance and Motor Finance have grown by 121% and 22% respectively.
"In the SME lending market we continue to see strong demand for our products. Momentum is building in line with management expectations and lending balances now exceed £200m. Secure Trust Bank Real Estate Finance has a significant pipeline of new business opportunities. The Commercial Finance and Asset Finance businesses continue to develop as planned.
"Secure Trust Bank continues to work on a diverse pipeline of business development opportunities. With strong capital and funding positions we believe we are well positioned to make further positive progress during the year."
-ENDS-
Secure Trust Bank PLC
Notes to Editors
Secure Trust Bank is a longstanding established UK bank. Its core business is to provide banking services including a range of lending solutions and saving products. The Company, which was incorporated in 1954, operates from its head office in Solihull, West Midlands.
The Company successfully listed on AIM on 2 November 2011 and the market capitalisation has increased over 400% since the IPO. It has been a subsidiary of Arbuthnot Banking Group PLC since 1985. Arbuthnot Banking Group PLC owns a 51.9% shareholding in the Company.
The Company's diversified lending portfolio focuses on asset finance, invoice finance, motor finance, unsecured personal loans, real estate finance and retail point of sale finance. Its lending activities are funded by customer deposits, with minimal exposure to interbank and wholesale funding.
Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH
www.securetrustbank.com
Enquiries:
Secure Trust Bank PLC
| Tel: 020 7012 2400 |
Henry Angest, Non-Executive Chairman | |
Andrew Salmon, Non-Executive Director | |
Paul Lynam, Chief Executive Officer | Tel: 0121 693 9100 |
Neeraj Kapur, Chief Financial Officer | |
David Marshall, Director of Communications | Tel: 020 7012 2400 |
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) | Tel: 020 7523 8000 / 020 7665 4500 |
Roger Lambert | |
Sunil Duggal | |
Stifel Nicolaus Europe Limited (Joint Broker) | Tel: 020 7710 7479 |
Rob Mann | |
Gareth Hunt | |
Bell Pottinger | Tel: 0203 772 2566 |
Ben Woodford | |
Dan de Belder |
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