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Secure Trust Bank PLC - Solihull, England-based savings accounts and lending services provider - Operating income slips to £164.5 million for 2021 from £166.1 million in 2020, with net interest income flat at £150.8 million versus £150.9 million, but net fee & commission income falling to £13.7 million from £15.2 million. Pretax profit jumps to £56.0 million from £19.1 million. Firm books net impairment charge on loans and advances to customers of just £4.5 million, far less than the £51.3 million expense taken in 2020. Total new business lending volumes increase 42% to £1.46 billion. Will recommend final dividend of 41.1p, taking total payout for year to 61.1p, up from 44.0p in 2020.
‘Looking forward, we have ambitious and achievable growth plans. We have emerged positively from both Brexit and the Covid-19 pandemic by improving the quality of our lending and effective risk management. The escalating cost of living crisis and the economic war with Russia are additional challenges but we are flexible, prudent, fleet of foot and well placed to grasp the opportunities ahead,’ says Chair Lord Forsyth.
Current stock price: 1,285.00 pence, down 4.8% on Thursday
12-month change: up 10%
By Lucy Heming; lucyheming@alliancenews.com
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