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STB Secure Trust Bank Plc

8.00 (1.27%)
26 Sep 2023 - Closed
Delayed by 15 minutes

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Share Name Share Symbol Market Type Share ISIN Share Description
Secure Trust Bank Plc LSE:STB London Ordinary Share GB00B6TKHP66 ORD 40P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  8.00 1.27% 638.00 632.00 636.00 640.00 630.00 640.00 25,973 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Commercial Banks, Nec 185.1 33.7 - 3.5 119.41

Secure Trust Bank PLC Trading Statement (3015L)

12/05/2022 11:58am

UK Regulatory (RNS & others)

Secure Trust Bank (LSE:STB)
Historical Stock Chart

From Sep 2021 to Sep 2023

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RNS Number : 3015L

Secure Trust Bank PLC

12 May 2022


Secure Trust Bank PLC


12 May 2022

For immediate release


Q1 2022 Trading Update

Growth momentum continues

This announcement contains Inside Information

Secure Trust Bank PLC and its subsidiaries ("Secure Trust Bank", "STB" or the "Group") provide a trading update for the first quarter ended 31 March 2022.


                            Q1'22          Q4'21       Change      Q1'21      Change 
 New Business Lending       GBP488.2m      GBP471.1m     3.6%     GBP318.5m    53.3% 
                        -------------  -------------  -------  ------------  ------- 
 Loans                    GBP2,645.1m    GBP2,531.9m     4.5%   GBP2,334.7m    13.3% 
                        -------------  -------------  -------  ------------  ------- 
 Core Loans (1)           GBP2,569.3m    GBP2,451.0m     4.8%   GBP2,157.9m    19.1% 
                        -------------  -------------  -------  ------------  ------- 
 Deposits                 GBP2,190.1m    GBP2,103.2m     4.1%   GBP1,917.4m    14.2% 
                        -------------  -------------  -------  ------------  ------- 

New Business

Total new business lending increased by 3.6% in the quarter and 53.3% compared to Q1 2021 demonstrating continued momentum post-pandemic. Record new business volumes have been delivered for successive quarters in both the Vehicle Finance and Retail Finance businesses.

Core Loan Book

The core loan book has grown by 4.8% in the quarter and 19.1% compared to Q1 2021. Strong growth in the quarter was achieved in Commercial Finance of 17.7% and Vehicle Finance of 11.9%. Retail Finance grew at 4.5% in the quarter and Real Estate Finance was broadly flat. The first quarter growth has been driven by the strong New Business levels.


Customer deposits were 4.1% higher at the end of the quarter, in line with loan book growth. The Group's strong liquidity position reflects a pre-funding approach for the lending pipeline.

David McCreadie, Chief Executive Officer:

"We remain mindful of the impact that the current high levels of inflation will have on household finances and the macro-economic uncertainty caused by geopolitical events. We are committed to supporting our existing customers and continuing to manage our businesses prudently with a selective approach to lending.

Our new business lending has continued to grow quarter on quarter maintaining the momentum built during the second half of 2021. Our core lending balances grew 19.1% compared to Q1 2021 and we remain on track to deliver against our medium-term growth targets.

During the first quarter, the Group announced the agreement to sell its debt management loan portfolio and its exit from the debt purchase market. We have taken action to simplify the Group in order to focus on our specialist lending businesses with the strongest prospects for delivering sustainable and profitable medium to long term growth. We are pleased with our performance in capturing growth opportunities across our businesses during the first quarter."

(1) - Core Loans excludes the Asset Finance and Consumer Mortgages loan books sold in July 2021 and the sale of the debt management loan portfolio announced in March 2022


Secure Trust Bank PLC

David McCreadie, Chief Executive Officer

Rachel Lawrence, Chief Financial Officer

Tel: 0121 693 9100

Stifel Nicolaus Europe Limited (Joint Broker)

Robin Mann

Gareth Hunt

Stewart Wallace

Tel: 020 7710 7600

Canaccord Genuity Limited (Joint Broker)

Andrew Potts

Tel: 020 7523 8000

The person responsible for the release of this announcement on behalf of STB is Mark Stevens, Company Secretary.

Forward looking statements

This announcement contains forward looking statements about the business, strategy and plans of STB and its current objectives, targets and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about STB's or management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. STB's actual future results may differ materially from the results expressed or implied in these forward looking statements as a result of a variety of factors. These include UK domestic and global economic and business conditions, risks concerning borrower credit quality, market related risks including interest rate risk, inherent risks regarding market conditions and similar contingencies outside STB's control, the COVID-19 pandemic, expected credit losses in certain scenarios involving forward looking data, any adverse experience in inherent operational risks, any unexpected developments in regulation or regulatory, and other factors. The forward looking statements contained in this announcement are made as of the date of this announcement, and (except as required by law or regulation) STB undertakes no obligation to update any of its forward looking statements.

About the Company

Secure Trust Bank is an established, well--funded and capitalised UK retail bank with a 70 year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had an average of 973 employees (full-- time equivalent) during 2021. The Group's diversified lending portfolio currently focuses on two sectors:

   (I)            Business Finance through its Real Estate Finance and Commercial Finance divisions, 
   (II)           Consumer Finance through its Vehicle Finance and Retail Finance divisions. 

As at 31 December 2021 the Group's loans and advances to customers totalled GBP2,531.9 million (66.6% of which is secured on assets and property), customer deposits totalled GBP2,103.2 million and the Group's total customer base was over 1.5 million customers. As these figures are as at 31 December 2021, they include 212 employees, GBP79.6 million in loans and advances to customers, and approximately GBP0.6 million customers which relate to Debt Managers (Services) Ltd (DMS). As announced, DMS agreed to sell its loan portfolio and expects, in the second half of 2022, to migrate its customers and transfer its employees to the purchaser of the portfolio.

Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Secure Trust Bank PLC, One Arleston Way, Solihull, B90 4LH.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

May 12, 2022 06:58 ET (10:58 GMT)

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