Arbuthnot hikes interim dividend after solid first half

(Sharecast News) - Arbuthnot Banking Group reported first-half profit before tax of £11.0m on Tuesday, broadly unchanged from £10.9m a year earlier, while earnings per share rose to 49.9p from 42.5p. The AIM-traded group increased its interim dividend by 9% to 24p per share, despite the impact of lower interest rates over the past year.

Customer deposits rose 8% year on year to £4.78bn, while loans including leased assets increased 6% to £2.45bn.

Specialist lending grew 17% to £1.05bn and funds under management and administration climbed 26% to £3.00bn, supported by £189m of net inflows, as Arbuthnot achieved its £10bn client balances target two years ahead of schedule.

At 1149 BST, shares in Arbuthnot Banking Group were up 1.45% at 842p.

Reporting by Josh White for Sharecast.com.

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