Q1 2026 trading update

Secure Trust Bank PLC

14 May 2026

 

PRESS RELEASE

Secure Trust Bank PLC

14 May 2026

For immediate release

SECURE TRUST BANK PLC

Q1 2026 trading update

Secure Trust Bank PLC ("STB" or the "Group"), a leading specialist lender, announces a trading update for the first quarter ended 31 March 2026. The Group remains on track to achieve its full-year 2026 guidance.

Q1 2026 performance overview

	Q1 2026 £m	Q4 2025 £m	QoQ % Change	Q1 2025 £m	YoY % Change
Net lending - continuing1	£3,345	£3,296	1.5%	£3,137	6.6%
Deposits	£3,149	£3,510	(10.3)%	£3,373	(6.6)%

Net lending

Continuing net lending balances grew by 1.5% in the quarter, and by 6.6% year-on-year. This reflects a broadly stable quarter in Retail Finance, which grew by 7.3% year-on-year, driven by a strong performance in Furniture. Business Finance grew by 3.0% in the quarter, up 6.1% year-on-year, supported by growth from its new Bridging product.

New product initiatives have gained traction in the quarter. Key roles are now fully recruited and operational readiness including technology development is progressing well. Lending activity has commenced across these products, with a growing pipeline building positive momentum to support growth ambitions.

Deposits

Customer deposits decreased by 10.3% in the quarter and 6.6% year-on-year, reflecting the reduced funding requirement following completion of the sale of the Consumer Vehicle Finance business in February 2026.

Capital

The Group is on track to initiate the previously stated £10 million share buyback programme, with an application for regulatory permission having been submitted and pending approval.

2026 previously stated guidance
Net lending	8-10% growth
Risk adjusted margin	c. 10 bps improvement
Costs	Cost income ratio c.47%
Capital	Common Equity Tier 1 ratio c.13.5%
Distributions	Progressive dividend policy maintained Intention to launch £10 million buy-back programme, subject to regulatory approval
Discontinued activities	Break even profit before tax pre-exceptionals
Medium-term targets
Annual growth in net lending	c.10%
Return on Average Equity	>16%

The Group's interim results for the six months ending 30 June 2026 are due to be released on 13 August 2026.

Ian Corfield, Chief Executive Officer, said:

"In Q1 2026 we have driven good progress against our strategic priorities that we set out in March. Growth in our lending divisions and momentum in newer product propositions reflect our continued focus on disciplined execution to deliver higher returns. Whilst mindful of the instability caused by current macroeconomic events, we remain on track for the full year and confident of our medium-term prospects."

Footnotes

1. Continuing activities include Retail Finance, Business Finance, and Central operations. Discontinued activities include the Vehicle Finance business.

Enquiries:

Secure Trust Bank PLC

Ian Corfield, Chief Executive Officer

Rachel Lawrence, Chief Financial Officer

Phil Deakin, Strategy and Corporate Development Director

Tel: [phone]

Email: [e-mail]

Investec Bank plc (Joint Broker)

Christopher Baird

Maria Gomez de Olea

Tel: [phone]

Shore Capital Stockbrokers (Joint Broker)

Mark Percy

Oliver Jackson

Sophie Collins

Ansh Batura

Tel: [phone]

Camarco

Geoffrey Pelham-Lane, Amrith Uppuluri

[e-mail]

Tel: [phone]

Forward-looking statements

This document contains forward looking statements about the business, strategy and plans of the Group and its current objectives, targets and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about the Group's or management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. The Group's actual future results may differ materially from the results expressed or implied in these forward-looking statements as a result of a variety of factors. These include UK domestic and global economic and business conditions, risks concerning borrower credit quality, market related risks including interest rate risk, inherent risks regarding market conditions and similar contingencies outside the Group's control, expected credit losses in certain scenarios involving forward looking data, any adverse experience in inherent operational risks, any unexpected developments in regulation, or regulatory and other factors. The forward-looking statements contained in this document are made as of the date of this announcement. Except as required by law or regulation, the Group undertakes no obligation to update or revise any forward-looking statements.

About STB

STB is an established, well‐funded and capitalised UK retail bank with a more than 72‐year trading track record. STB operates principally from its head office in Solihull, West Midlands. The Group's diversified lending portfolio focuses on two lending sectors, with multiple product verticals, supported by a strong deposits franchise:

(i) Business Finance, and

(ii) Retail Finance through its V12 brand.

Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Secure Trust Bank PLC, Yorke House, Arleston Way, Solihull, B90 4LH.

 

END