UK's Arbuthnot Latham Reports Surge In Profit

Tom Burroughes

17 March 2016

UK-based Arbuthnot Latham, part of the Arbuthnot banking group, today reported pre-tax profit of £6 million ($8.6 million) in 2015, a year-on-year surge of 65 per cent. Assets under management rose 11 per cent to £739 million.

Customer loans rose 15 per cent to £619 million, and customer deposits rose 53 per cent to £897 million, Arbuthnot Latham said in a statement.

On the retail banking side of Arbuthnot - its Secure Trust Bank business - pre-tax profit rose to £36.8 million, from £26.3 million in 2014.

Across the entirety of the group, statutory profit before tax on continuing operations rose to £22.6 million, up from £13.9 million. Pre-tax profit, including the results of the Everday Loans business that was sold, rose to £34.2 million from £22.5 milion. Earnings per share rose to 86.3 pence, from 58.6 pence.