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Arbuthnot Banking Group loan balances grow by 33%

Sam Monk | 15:40 Wednesday 16th October 2019

Arbuthnot Banking Group has announced that its loan balances have grown by 33% compared with the previous year in its update on trading for the three months to 30th September 2019.

It’s overall loan balances have exceeded £1.6bn.

The group also noted that it had added £264.9m of mortgages to its loan book.

Other highlights from the report included:

  • deposit balances increased by 17% compared with the prior year and have since surpassed £2bn
  • £85m of new deposits were raised by Arbuthnot Direct since the mortgage portfolio acquisitions — leaving the group with more than £300m surplus liquidity in excess of the minimum regulatory requirement
  • the renaissance asset finance division ended the quarter with lending balances of £101m, an increase of 22% compared with the prior year
  • Arbuthnot Asset Based Lending has grown customer facilities to £106m, an increase of 278% on the previous year
     

“The group remains well positioned to continue its strategy of diversification of its lending and deposit-raising capabilities and the deployment of the surplus capital,” said Henry Angest, chairman and chief executive at Arbuthnot.

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