Arbuthnot Banking (GB:ARBB) has released an update.
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Arbuthnot Banking Group PLC reported a half-yearly profit of £20.8 million, a decrease from the previous year, attributing the decline to the timing gap between Bank of England rate rises and fixed deposit repricing. Despite a challenging interest rate environment, the Group’s specialist lending divisions and wealth management services showed robust growth, with a 29% year-on-year increase in specialist lending balances and a 43% surge in funds under management. Shareholders were rewarded with a special dividend, reflecting the Board’s confidence in the Group’s strategic plan and financial health.
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