Share Prices & Company Research

Market News

17 Oct 2018 | 10:09

Arbuthnot Banking forecasts in-line results amid 'good' progress in Q3

Arbuthnot Banking Group said Wednesday it expected to deliver full-year profit in line with market expectations following 'good' progress in the third quarter.

For the three months to 30 September, customer lending balances increased 28% and and new loan originations rose 18% from a year earlier.

The recently launched asset based lending division continued to develop ahead of the original business plan and had a 'strong' pipeline of new opportunities, the company said. While the newly completed specialist finance division was expected to write its first deals toward the end of the fourth quarter or early 2019.

With the direct deposits business completed, the company said it would look to offer direct-to-market retail deposits. 'The bank now has record levels of surplus liquidity, which given the upward trend in interest rates will become more important to the profitability of the bank over time,' said Arbuthnot.

At 10:09am: (LON:ARBB) Arbuthnot Banking Group PLC share price was -10p at 1365p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.