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Arbuthnot Banking Group completes testing phase of direct deposits business

Theo Osborn | 13:15 Wednesday 17th October 2018

Arbuthnot Banking Group has announced that the internal pilot offering of its direct deposits business will commence soon.

The testing phase has now been completed with the public launch scheduled to take place shortly after the pilot offering.

The business will allow Arbuthnot to offer direct-to-market retail deposits.

The group expects to deliver a full-year profit and has announced that originations of new loans were 18% higher in the three months to 30th September 2018, compared with the same period a year earlier, while customer-lending balances were 28% higher.

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