Secure Trust Bank Share Discussion Threads

[brucie5] 14/12/2022 15:17

Good find - thanks Tomps2.
Impressive presentation.

[tomps2] 14/12/2022 14:37

Introducing Secure Trust Bank (STB) - December 2022

Secure Trust Bank CEO, David McCreadie gives an overview of this specialist lending business, which is also a regulated bank. David joined STB about three years ago, initially as a Non-Exec director, he took over as CEO two years ago and gives an update on what they've been doing, the strategy going forward and the impact of the current economic climate.

Watch the video here:

Or listen to the podcast here:

[digger18] 30/11/2022 16:04

Does anyone have an email address for the MD? I can’t seem to find one on the website or any RNS?

[p1nkfish] 29/11/2022 20:34

None too good that he doesn't already.

[retsius] 29/11/2022 18:52

Digger18

Send an email to David McCreadie he’d want to know.

[retsius] 29/11/2022 18:50

Digger18
Thanks for posting an update.

I am very shocked you have not had any callback from Customer Services.
There must be something wrong here, they were posting 90% customer satisfaction not long ago.

[brucie5] 29/11/2022 17:17

Fair enough. Thanks for response. I'm hoping that quite aside from the specific merits of the business (or demerits) the sector is benefiting from higher interest rates. And STB pays a decent dividend while meeting three Stock screens. Meanwhile 600 looks like the bottom on the five-year view so I'm willing to be the patient holder.

[digger18] 29/11/2022 16:22

Because their rates are very good and I am shareholder as well.

[brucie5] 29/11/2022 14:50

digger18, sorry to hear that. I wonder what's going on. Out of interest - and as a shareholder here - why did you choose STB? I would have through it's well under the radar of most savers?

[digger18] 29/11/2022 13:27

Well they clearly don’t want deposits!
Both my wife and I want to open ISA and easy access accounts, the after three weeks of trying, an email and a call to customer service, still nothing! Very disappointing as a shareholder and business now taken elsewhere. So I can only assume that there is too much red tape or staff shortages or they do t need the business.

[mwj1959] 23/11/2022 17:17

And we're not going to be getting any trading update until January. That should give us a better feel for how things are going. Given the share price a lot of bad news must already be in the price, but if the recession really does last as long as the BoE thinks there's not going to be any let up for a while. I suspect the best we can hope for is that any news is not as bad as the market is discounting. And remember that the impact of an economic downturn takes a while to feed through into the banking system.

[digger18] 21/11/2022 14:23

Email sent; I will post the reply.

[retsius] 21/11/2022 08:12

digger18
Let us know how you get on.
R.

[p1nkfish] 20/11/2022 18:02

Someone needs a sharp finger nail somewhere sensitive.
Not acceptable.
An email to CEO might help highlight their obvious failings.

[retsius] 20/11/2022 17:41

An immediate email would be my response.
R.

[digger18] 20/11/2022 17:18

I am a shareholder here, but I am disappointed with the company.
I tried to open an ISA account online and having completed the process, faced a statement as follows: “Thank you for your application. There are a few checks that need to be done and once these have been completed we will be in touch. Note that this can take up to five working days”
Two weeks later, I have heard nothing!
My wife also tried to open up a new Easy access savings account and she also received the same message. Again, ten days later, still nothing.
This is not good customer service and does not bode well. Why don’t they want to “receive”; money from customers!!

[p1nkfish] 08/11/2022 14:54

I think the fall is because STB is seen as a bet on the UK economy and UK consumer and it has a downer on it for upteen reasons. Won't go there as we all know what's happening.

The patient will be rewarded imho and be paid something to wait in the meantime too.
GLA. i have been adding, have no timescales and no particular target currently. It just looks overdone.

[cfro] 08/11/2022 13:53

Even if they cut the full year dividend the yield here would still be way above 7%.

With the all the various negatives to one side, there are still a few positives. Houses will likely carry on being sold even if volumes are down, hence mortgages still sold (again even if lower volumes), Loans and credit card lending likely to rise due to cost of living and struggling customers generally borrowing more (although that can lead to bad debts of course) and higher interest rates will massively help banks.

Just trying to make sense of this fall that's all..

[brucie5] 08/11/2022 12:07

Maybe unreliability of dividends in the past? Is MTRO any comparator?
Yes, it does now seem cheap, so in theory, that's the time to buy an income stock. You should get best of both worlds: high captured income + capital growth too come.

[cfro] 08/11/2022 12:00

With regards to some of the previous posts above, indeed why has the share price of this stock been hammered so much? You have to ask that question. Its been an almighty fall from its highs back in the summer.

Its not that they have warned on profits. Ok, so, the banking sector is down in general, the company is tightening and restricting lending (you can always argue whether that is shrewd or too little too late), bad debts are highly likely to rise (perhaps significantly), we are most likely about to enter a serious recession, yada yada yada...

But, hang on a minute, we know all that and hence STB is now priced on a forward PE of less than three so all the bad news should be more than priced in.

Its seems everyone has it in for the banks and banking sector but putting Credit Suisse aside, some major banks are in reality now reporting better results. Look at Deutsche bank with their Q3 results adding 1bn Euros to make 1.6bn Euros in profits and also Italy's Uni Credit reporting profits up 20%. So all is not no where near as bad as some are making out...

[brucie5] 07/11/2022 20:00

Thanks, very helpful in building a further picture.

[brucie5] 07/11/2022 12:42

Thanks Pinkfish. I guess at these levels and assuming there's nothing nasty that we're not seeing, patience is only likely to be rewarded.
Can you tell me more about the app?

[p1nkfish] 07/11/2022 11:13

Yes. Have been buying too on and off.
They have a track record of coping with less than ideal economic backdrops.
Interesting to see if the app gains traction too as a new string to the bow.

[brucie5] 07/11/2022 09:43

So Edison's most recent update refers us back to their August report in which fair value see as 2,407. In the meantime Stocko giving a div of c. 7.5% to be getting on with. What am I missing that the market is seeing. I thought rising interest rates were good for banks, so long as a diligent around their loan books... It's an income/recovery buy, surely?