In transition
Arbuthnot Banking Group (ARBB) is in a period of transition following the sale of the Everyday Loans Group (ELG) and shares in Secure Trust (STB). The gains crystallised by these disposals resulted in a first half post-tax profit of £225m and an NAV of 1,852p. Prospectively, balance sheet strength is likely to be used for growth in the Arbuthnot Latham loan book and opportunistic M&A. The current below-book valuation appears cautious in view of the bank’s history of NAV growth and the conservative, long-term approach taken by management.Arbuthnot Banking Group is primarily involved in banking and financial services. Co. is organized into three main operating segments: Retail banking (associate), which incorporates household cash management, personal lending and banking and insurance services; U.K. Private banking, which incorporates private banking, commercial banking and wealth management; and Group Centre, which is comprised in Co.'s Group Centre management. As of Dec 31 2016, Co.'s total assets were £1.27 billion.
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