Hampshire Trust Bank reports growth in H1 2016
Hampshire Trust Bank has reported strong growth in the first half of 2016 (H1), with assets and customer deposits increasing.
In H1 2016, total assets increased by 60% to £389m, compared to £243m at the end of 2015, loan assets increased by 75% to £311m and customer deposits increased by 68% to £314m. Customer numbers increased to 10,000 from 7,500 at the end of 2015.
The bank also announced that headcount has increased to more than 100, a 25% increase in employee numbers at the end of 2015, with plans for further growth in the year ahead to meet business objectives.
Mark Sismey-Durrant, chief executive officer at Hampshire Trust Bank, said: “We are delighted with our financial performance in the first six months of 2016 and expect to continue on this strong growth trajectory during the second half of the year. As a relatively new business with no legacy loans, we feel well positioned to respond to the current economic political uncertainty around Brexit.”
Ketan Malde, chief financial officer at Hampshire Trust Bank, added “We are in a strong financial position for the future. The bank is well capitalised with a Tier 1 capital ratio of 28% and a liquidity coverage ratio of 257%, demonstrating our robust liquidity position.”
Hampshire Trust Bank lends to UK businesses, providing asset finance, property finance and commercial mortgages. It also offers savings accounts to individuals and businesses.