In a statement, Arbuthnot said its two banking divisions have “delivered robust performances” despite the financial turmoil.

“There has inevitably been a more direct impact on performance at Arbuthnot Securities, and this has continued in recent weeks. However, overall results for the Group are expected to show a small profit after taxation and minorities, and positive earnings per share,” it said.

Secure Trust Bank has shown a strong improvement in profitability compared to last year, benefiting from management action to focus operations and cut costs, the statement said.

The private bank,  Arbuthnot Latham, “has traded profitably”. Some of its profit will be reduced by its share of the UK banking industry’s contribution to a UK financial sector compensation scheme that protects bank depositors.

“Both banking businesses remain highly liquid, well funded and well capitalised. Neither has had to seek third party support to strengthen its balance sheet or funding position,” it said.

Arbuthnot Securities is expected to show a loss, reflecting the sharp reduction in corporate transactions combined with the adverse impact of volatile markets on the trading book, Arbuthnot said.

The bank added that this year's final dividend will be in line with the interim dividend, making a total payment for the year of 21 pence per share.