Arbuthnot Banking Group has completed its first client loan through its newly launched asset-based lending division.
The company announced the news yesterday (10th May 2018) at its annual general meeting.
At the end of April, deposits at the bank had increased by 37%, while customer lending grew by 18%.
This followed reports that Arbuthnot Latham had written loan volumes of £466m for 2017, a 105% increase on the £227m announced in 2016.
Speaking at the group AGM, Sir Henry Angest, chairman at Arbuthnot Banking Group, said: “Overall, the group has continued to grow and despite seeing increased competition in the private banking lending market, we expect to make further progress during the rest of the year.”
Henry said the new lending division’s launch was part of the group’s strategy of diversifying the lending businesses.
The banking group recently announced that Ian Henderson has stepped down from his role as chief executive officer at Arbuthnot Latham & Co.
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