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Secure Trust Bank lending rebounds as lockdown eased
StockMarketWire.com
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Secure Trust Bank has reported a strong recovery in lending in the third quarter of 2020.
The company said this was particularly evident in its retail finance division, where new business volumes were at or near pre-COVID levels, notwithstanding the significant tightening of credit criteria implemented during the first half of 2020.
At the end of September 0.9% of its motor finance customers and 0.7% of retail finance customers had an active repayment holiday.
The company said it saw 'considerable opportunities' to grow its motor finance business, following the launch of a 'prime' service on 1 October 2020.
At 9:50am: (LON:STB) Secure Trust Bank PLC share price was +57p at 712p
Story provided by StockMarketWire.com
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