Secure Trust Bank, Arbuthnot Banking Group’s retail banking unit, has posted a pre-tax profit of £25.17m for the year ended 31 December 2015, a jump of 41.7% compared to £17.75m a year ago.
Operating income stood at £92.09m, an increase of 44.6% from £63.66m a year earlier.
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Net interest income surged 60.55% to £78.88m from £49.14m in the prior year.
Net fee and commission income dropped 9% to £13.20m in 2015 from £14.51m in 2014.
Operating expenses soared 34.5% year-on-year to £50.13m from £37.25m.
Overall, Arbuthnot Banking Group registered a pre-tax profit of £34.2m for 2015, a 52% surge compared to £22.5m in the prior year. The group’s overall operating income increased 38% to £126.7m from £92m in the same period last year.
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By GlobalDataArbuthnot chairman and CEO Sir Henry Angest said: "This has been another good year for the Group with both Banks performing well. With the disposal of Everyday Loans we will have capitalised the future earnings of our highest risk lending and strengthened the Group’s resources to support future growth."
