Hardman & Co Research on Arbuthnot Banking Group (ARBB) 1H’23: steering through the interest rate wave

Hardman & Co Research Hardman & Co Research on Arbuthnot Banking Group (ARBB) 1H’23: steering through the interest rate wave 04-Aug-2023 / 11:15 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research on Arbuthnot Banking Group (ARBB) 1H’23: steering through the interest rate wave ABG’s income has been driven by the way in which it has managed its franchise – specifically, building a relationship bank with less price-sensitive deposits. Spreads have widened in a rising rate environment, despite ABG offering competitive rates to its relationship customers, and group operating income increased by 51% on 1H’22. Margins may have peaked now. We previously expressed the view that, if the base rate were sustained at 4%, or higher, there could be marketwide credit issues. The very early signs of this are now evident. However, ABG’s conservative approach, with its low LTVs, good-quality security (primarily residential real estate) and stress testing curtailing lending, means it is positioned well. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/1h23-steering-through-the-interest-rate-wave/ If you are interested in meeting the company, you can register your interest by clicking on the above link To contact us: Hardman & Co 1 Frederick’s Place London EC2R 8AE www.hardmanandco.com Follow us on Twitter @HardmanandCo Contact: Mark Thomas [phone] [e-mail]   Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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1696557  04-Aug-2023