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Friday 18 October, 2019

Hardman & Co Research

Arbuthnot Banking Group (ARBB): 3Q19: loans +33%, deposits +17%, investment rising

Hardman & Co Research
Hardman & Co Research: Arbuthnot Banking Group (ARBB): 3Q19: loans +33%, deposits +17%, investment rising

18-Oct-2019 / 07:30 GMT/BST


Hardman & Co Research: 3Q19: loans +33%, deposits +17%, investment rising

The key message from the 3Q'19 trading statement was of continued strong franchise growth (loans +33% to £1.6bn, deposits +17% to £2bn). The Private Bank has been adding ca.40 clients per month, although it takes time to generate revenue growth from them. Arbuthnot Direct has raised £85m of deposits since August, and other new business areas have shown strong grown (Renaissance Asset Finance loans £101m, +22%, Asset Based Lending £106m). There have been a limited number of credit situations with impairments rising, as may be expected at this stage of the cycle. Investment has been accelerated relative to our prior estimates and the wealth management division is being restructured. Please click here for the full report:

https://www.hardmanandco.com/research/corporate-research/3q19-loans-33-deposits-17-investment-rising/

 

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About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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