DJ Hardman & Co Research on Arbuthnot Banking Group (ARBB) 2022: profits and growth in core and new franchises
Hardman & Co Research Hardman & Co Research on Arbuthnot Banking Group (ARBB) 2022: profits and growth in core and new franchises 06-Apr-2023 / 12:15 GMT/BST The issuer is solely responsible for the content of this announcement.
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Hardman & Co Research on Arbuthnot Banking Group (ARBB): 2022: profits and growth in core and new franchises
ABG's 2022 results delivered the expected strong profit and franchise growth (pre-tax profit up from GBP4.6m to GBP20m). Core business profitability increased primarily because of widening spreads increasing the value of deposits. Core credit quality remained good. The scale of growth has been driven by the way in which ABG has managed its franchise, building a relationship bank with less price-sensitive deposits. In recent years, ABG has invested in multiple, new, specialised SME financing businesses. These delivered franchise/profit growth in 2022. There is no Silicon Valley Bank (SVB) read-across. The dividend rose by more than expected, and the medium-term Return on Capital (RoC ) target was achieved early.
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End of Announcement - EQS News Service
1603289 06-Apr-2023
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(END) Dow Jones Newswires
April 06, 2023 07:15 ET (11:15 GMT)
