Hardman & Co Research
Hardman & Co Research: Arbuthnot Banking Group (ARBB): 1H'19 results:
diversified, low-risk growth continues
29-Jul-2019 / 15:35 GMT/BST
Hardman & Co Research: 1H'19 results: diversified, low-risk growth continues
The 17 July 1H'19 results [1] showed the further progress made in profitably
deploying the capital ABG generated from the partial sales of its stake in
STB. Loans grew 16% to GBP1,275m, and deposits increased 18% to GBP1,829m, driving
net interest income up 15%. Other new businesses continue to show strong
growth. Commercial Banking generated profits of GBP3m (1H'18 loss: GBP0.8m). The
group is well-funded (loans 70% of deposits) and has surplus group capital of
ca.GBP70m (core equity Tier 1 surplus in excess of GBP30m). In July, ABG announced
the acquisition of two mortgage portfolios for GBP258m; this shows the company's
flexibility to take value-added acquisition opportunities.
Please click here for the full report:
https://www.hardmanandco.com/research/corporate-research/1h19-results-diversif
ied-low-risk-growth-continues/ [2]
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848311 29-Jul-2019
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(END) Dow Jones Newswires
July 29, 2019 10:35 ET (14:35 GMT)
