Hardman Research: Clear strategy, value added deal

RNS Number : 6313S

Arbuthnot Banking Group PLC

22 December 2016

 

Hardman Research: Clear strategy, value added deal

New group taking shape with strong momentum: In the past week ABG has announced the acquisition of a private-bank loan portfolio and a specialist asset backed finance business (subject to regulatory approval). Prior to these deals we believed ABG had nearly £100m of surplus capital and these deals will utilise £15m of this. ABG is now evolving into a more diversified banking group with both deposit and targeted lending businesses. It is establishing clear momentum across the group. We had expected loan acquisitions and will build the asset-backed deal into our numbers and valuation once the completion of the deal is more certain.   

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