Secure Trust Bank Faces Profit Challenges Amid Growth

Secure Trust Bank (GB:STB) has released an update.

Secure Trust Bank PLC reported growth in its net loan book and deposits in Q3 2024; however, challenges in its Vehicle Finance division have led to an expected decline in annual profits. Despite a challenging economic environment, the bank achieved prudent lending growth and significant cost savings, while early arrears in Vehicle Finance have decreased to a three-year low. The bank remains focused on recovering value from defaulted balances, but this process may extend into 2025.

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