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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Arbuthnot Banking Group Plc | LSE:ARBB | London | Ordinary Share | GB0007922338 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1,027.50 | 995.00 | 1,060.00 | 0.00 | 08:00:22 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Commercial Banks, Nec | 181.44M | 35.38M | 2.1678 | 4.74 | 167.69M |
From May 2019 to May 2024
TIDMARBB
RNS Number : 1703S
Arbuthnot Banking Group PLC
19 December 2016
FOR IMMEDIATE RELEASE
19 December 2016
Arbuthnot Banking Group PLC
Loan Portfolio Acquisition
Arbuthnot Banking Group PLC ("Arbuthnot" or "the Group") today announces that its wholly owned subsidiary Arbuthnot Latham ("AL") has completed the purchase of a private banking loan portfolio, which is mainly secured against residential property.
The loans are being purchased from Duncan Lawrie Ltd ("Duncan Lawrie"). As at 31 October 2016 the portfolio had total customer balances of approximately GBP44.9m and comprised 83 customer accounts. The average loan to value of the portfolio was 43% and the client yield was 5.21% (for the month of October) before applying any yield adjustment for the negotiated discount, which was 5% to the par value of the loans. This discount should result in a higher effective interest rate as the portfolio repays.
The consideration of GBP42.7m (which is subject to certain completion adjustments relating to the period up to 31 January 2017) will be satisfied in cash from the Group's resources.
Enquiries:
Arbuthnot Banking Group Henry Angest, Chairman and Chief Executive Andrew Salmon, Group Chief Operating Officer James Cobb, Group Finance Director Ian Henderson, Group Director and 0207 012 Chief Executive Arbuthnot Latham 2400 Stifel Nicolaus Europe Ltd trading as KBW (Nomad and Joint Broker) Robin Mann Gareth Hunt 0207 710 Stewart Wallace 7600 Numis Securities Ltd (Joint Broker) Chris Wilkinson 0207 260 Andrew Holloway 1000 Bell Pottinger (Financial PR) 0203 772 Ben Woodford 2563
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQFFWESAFMSESE
(END) Dow Jones Newswires
December 19, 2016 02:00 ET (07:00 GMT)
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