Annual General Meeting Statement - 2013

RNS Number : 3788E

Arbuthnot Banking Group PLC

09 May 2013

 



PRESS RELEASE

For immediate release

9 May 2013

Arbuthnot Banking Group PLC

Annual General Meeting Statement - 2013

The Board of Arbuthnot Banking Group PLC (the "Group") announces today that shareholders approved all the resolutions proposed at the Annual General Meeting held today Thursday 9 May 2013.

At the meeting Henry Angest, Chairman made the following statement:

"Across the Group our businesses have started the year well.

Secure Trust Bank PLC ("Secure Trust") continued to trade well during the first few months of the year with strong levels of organic new lending. Motor finance volumes in April represented a new record month.

Everyday Loans is delivering a strong performance and new branches have been opened in Belfast and Ipswich, and a further branch will open shortly in Edinburgh. The V12 operations are being integrated with those of the existing Secure Trust Retail Finance business, and management see significant potential in this area as the retail market recovers. New senior sales staff are being recruited and the business expects to see further growth once a larger sales team is in place. The integration of Debt Managers (Services) Limited is progressing as anticipated. 

Arbuthnot Latham is seeing good growth across all its lines of business as the new recruits start to gain traction in their markets. The bank has also obtained an agreement in principle to operate in Dubai, which should see Arbuthnot Latham open an office in the middle of the year offering wealth planning services initially to the expatriate population.

As previously mentioned both of our banks have applied to join the Funding for Lending Scheme ("FLS") and much progress has been made, but we still await precise terms for final admittance to the scheme. We continue to manage our liquidity with caution.

Both Secure Trust and Arbuthnot Latham are actively working on a pipeline of business development opportunities. But as always management remain prudent in assessing these opportunities, in particular taking into account the on-going uncertainties in the economy."

-ENDS-

Arbuthnot Banking Group PLC

Notes to Editors

Arbuthnot Banking Group PLC has a 180 year history of providing banking services to its customers, as well as a long track record as a successful business against the background of a continually changing environment.

Arbuthnot Banking Group PLC, which is quoted on AIM, consists of two main subsidiaries delivering a range of banking services to a wide cross-section of clients.

Arbuthnot Latham & Co., Limited provides private banking and wealth management, including financial planning and investment management services.

Secure Trust Bank PLC provides retail banking services.  The Bank is a separately quoted AIM company within the Arbuthnot Banking Group and offers a range of services to customers including personal loans, current and savings accounts.

Arbuthnot Latham & Co., Limited and Secure Trust Bank PLC are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

Arbuthnot Banking Group PLC, Arbuthnot House, 20 Ropemaker Street, London EC2Y 9AR

Enquiries:

Henry Angest, Chairman and Chief Executive                                                     Tel:        [phone]

Andrew Salmon, Chief Operating Officer

James Cobb, Group Finance Director

David Marshall, Director of Communications                                                     

Canaccord Genuity Limited (Nominated Adviser)                                            Tel:        [phone]

Lawrence Guthrie                                           

Sunil Duggal

Numis Securities Limited (Broker)                                                                           Tel:        [phone]

Christopher Wilkinson

Mark Lander

Pelham Bell Pottinger                                                                                                   Tel:        [phone]

Ben Woodford

Dan de Belder

 

END

 

 

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