Secure Trust Bank - Lower-risk growth strategy delivers profit beat
Secure Trust Bank (STB) beat expectations in FY22 as it continued its strategy of growing exposure to prime lending products and utilising its proprietary technology. Driven by prime lending growth, operating income from continuing operations rose 14% to £169.6m which, combined with the ongoing cost efficiency programme, led to 28% pre-impairment PBT growth. PBT from continuing operations fell to £39.0m (£55.9m) as impairments normalised following one-off releases which benefited STB in FY21. STB shows positive signs of increasing its market share in the prime lending segment, which we reflect in our FY23 and FY24 forecasts.Secure Trust Bank is involved in banking and financial services. Co.'s segments are: real estate finance, which include residential and commercial investment and development loans; asset finance, which include loans to small and medium sized enterprises; commercial finance, which include invoice discounting and invoice factoring; personal lending, which include unsecured consumer loans; motor finance, which include hire purchase agreements; retail finance, which include point of sale unsecured finance; and residential mortgages, which is for the self-employed, contract workers. As of Dec 31 2017, Co. had total assets of £1.89 billion and total customers deposits of £1.48 billion.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.