Pre Close Trading Update

RNS Number : 3691X

Arbuthnot Banking Group PLC

21 February 2017

 

21 February 2017

Arbuthnot Banking Group PLC

Pre Close Trading Update

Arbuthnot Banking Group PLC ("Arbuthnot" or "the Group") today issues a pre close trading update ahead of its Preliminary results announcement for the year ended 31 December 2016, which is scheduled for 23 March 2017.

The Group continued its development as anticipated in the fourth quarter of 2016 and therefore expects to report pre-tax profits in line with market expectations.

As previously announced in December 2016, the Group completed the purchase of the Duncan Lawrie loan portfolio. This has now been successfully transferred to Arbuthnot Latham.

In December the Group also announced that it had reached an agreement to acquire Renaissance Asset Finance ("RAF"), which was subject to approval of the change of control application by the Regulatory Authorities. One of these approvals has now been received but the completion still remains conditional on the final receipt. However, it is expected that the transaction will be completed before the end of the first quarter of 2017.

Enquiries:

Arbuthnot Banking Group Sir Henry Angest, Chairman and Chief Executive Andrew Salmon, Group Chief Operating Officer James Cobb, Group Finance Director Ian Henderson, Group Director and Chief Executive Arbuthnot Latham	0207 012 2400
Stifel Nicolaus Europe Ltd trading as KBW (Nomad and Joint Broker) Robin Mann Gareth Hunt Stewart Wallace	0207 710 7600
Numis Securities Ltd (Joint Broker) Chris Wilkinson Andrew Holloway	0207 260 1000
Bell Pottinger (Financial PR) Ben Woodford Sam Cartwright	0203 772 2500

 

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