Member Article

Secure Trust Bank report “record levels of profits” 

Secure Trust Bank, whose Commercial Finance arm is headquartered in Manchester report its profit before tax has increased to £26.1m up from £17.1m .

In the three years since its IPO in late 2011, the bank’s underlying profits before tax have increased by 322% and customer lending balances have also increased by over 300%

It has also seen strong customer growth in the last year with numbers growing by 22% to 429,507 customers.

The bank have said its strong results are due to its provision of a wider range of products and services as well as diversification of its loan book.

Chairman, Henry Angest, said: “Secure Trust Bank is today pleased to announce another year of record levels of profits.

“These are the product of the ongoing diligent execution of our strategic plan. During 2014 we further improved our balance sheet strength and operational capabilities giving us the ability to provide a wider range of products and services to consumer and business customers whilst growing and diversifying our loan book.”

Managing director of Business and Commercial at Secure Trust Bank, Paul Marston, said: “Secure Trust Bank has continued to make significant progress with the development of our SME lending facilities, demonstrated by the record 53 per cent growth in profits achieved by the group.

“The launch of the Invoice Finance division in September has been extremely well received in the marketplace, while the addition of our Asset Finance and Real Estate Finance businesses have further enhanced our offering.

“Our customers benefit from fast decision-making and transfer of funds, along with local advisors.

“As a result, we continue to see very strong demand for SME lending facilities from a wide variety of business customers, and we are confident that volumes will continue to grow during the coming months.”

This was posted in Bdaily's Members' News section by Sophia Taha .