Arbuthnot Banking Group (ABG): 2018 results: growth and diversity
The 28 March results showed the great progress made in profitably deploying the capital ABG generated from the partial sale of its stake in Secure Trust Bank (STB). Underlying EPS rose from 17.6p in 2017 to 40.3p, loans grew 17% to £1,225m, and deposits increased 23% to £1,714m. New businesses are diversifying income and credit risk. Commercial Banking reported a £2.5m profit (2017: £2.1m loss), Asset-Based Lending facilities totalled £43m at end-December, Specialist Finance got its first loan sanctioned in 2019, and Arbuthnot Direct is live. The group is well funded (loans 71% of deposits) and capital ratios are strong (Core Tier 1: 15.9%).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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