Hardman & Co Research on Arbuthnot Banking Group (ARBB) Trading update: taking ABG to the next level

Hardman & Co Research Hardman & Co Research on Arbuthnot Banking Group (ARBB) Trading update: taking ABG to the next level 24-Oct-2023 / 15:15 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research | Banks Arbuthnot Banking Group (ARBB) | Trading update: taking ABG to the next level In our view, the key takeaway from the recent 3Q trading statement is how ABG is progressing strategically towards its “Future State 2” plan. In particular, we note i) specialist SME finance divisions generating the ambitious balance sheet growth in the plan, ii) optimising the core relationship banking franchise, which, in this period, saw 7% deposit growth ‒ given the level of base rates, this is a profitable product for a relationship bank, and iii) continued investment, which, at times, requires a step change in cost rather than a gentle evolution. To meet expected multi-year demand, ABG is increasing its central London HQ office space by 45% at an annual increase in cost of ca.£5m (with further dual running costs until October 2024 as it is refitted). Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/trading-update-taking-abg-to-the-next-level/ If you are interested in meeting the company, you can register your interest by clicking on the above link To contact us: Hardman & Co 1 Frederick’s Place London EC2R 8AE www.hardmanandco.com Follow us on Twitter @HardmanandCo Contact: Mark Thomas [e-mail]   Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

1756375  24-Oct-2023