Asset Management

Adam & Co Pretax Profits Up 45 Per Cent For FY2013

Mark Shapland, Reporter, London, 3 July 2014

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RBS owned Adam & Company has reported a 45 per cent jump in full year pretax profits to £16.7 million.

RBS-owned Adam & Company has reported a 45 per cent jump in full year pretax profits to £16.7 million.

The private bank also saw bad debts fall from £7 million to £1 million last year and paid a £25 million dividend to its taxpayer-owned parent.

“These are the best figures since I joined the bank,” said managing director Graham Storrie told the Scotsman newspaper.

“We would like to grow our lending further and that is the focus for 2014. We are off to a good start and our pipeline of new business is healthy,” he added.

The bank offers private banking, investment management and financial planning  as well as online services. More than half - 56 per cent - of clients are now banking online, including mobile.

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