PRE-CLOSE TRADING UPDATE

RNS Number : 6313V

Secure Trust Bank PLC

16 January 2013

 



                                                                                                                  For Immediate Release

PRESS RELEASE                                                                                                                16 January 2013

 SECURE TRUST BANK PLC

PRE-CLOSE TRADING UPDATE

Secure Trust Bank PLC ("STB" or the "Company") today issues a pre-close trading update ahead of its preliminary results announcement for the year ended 31 December 2012 scheduled for 21 March 2013.

STB celebrated its 60^th year in business in 2012 by delivering on the commitments it made on its IPO at the end of 2011. The good trading performance previously disclosed for the quarter ending 30 September 2012 continued during the last quarter of 2012, with growth in all the lending portfolios and the current account product. As a result the company expects to report profit before tax for 2012 in line with market expectations.

The Company continues to work on a diverse pipeline of organic and inorganic business opportunities as detailed at the time of the placing announced in November 2012. STB announced the completion of the acquisition of the V12 Finance Group on 3 January 2013 and the acquisition of the business of Debt Managers on 15^th January 2013. The costs arising from these acquisitions of approximately £0.8m will be included in the 2012 accounts as an exceptional. 

The profitable trading coupled with the successful equity placing in the fourth quarter resulted in STB ending the year with robust capital and funding positions. STB enters 2013 in a strong and confident position and will continue to call on Government and the regulators to do more to enable challenger banks, such as itself, to compete on a like for like basis with the larger, state supported and subsidised banks.   

-ENDS-

Enquiries:

Secure Trust Bank PLC
Henry Angest, Non Executive Chairman Andrew Salmon, Non Executive Director	Tel:      [phone]
Paul Lynam, Chief Executive Neeraj Kapur, Chief Financial Officer	Tel:      [phone]
David Marshall, Director of Communications	Tel:      [phone]
Canaccord Genuity Hawkpoint Limited (Nominated Adviser)  Paul Baines Sunil Duggal	Tel:      [phone]
Canaccord Genuity Limited (Broker)	Tel:      [phone]
Roger Lambert Lucy Tilley
Pelham Bell Pottinger	Tel:      [phone]
Ben Woodford Dan de Belder

 

END

 

 

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