Secure Trust Bank ( (GB:STB) ) has shared an update.
Secure Trust Bank PLC reported solid growth for the year ending December 31, 2024, with an 8.8% increase in lending balances and a stable net interest margin of 5.4%. Despite a decrease in total profit before tax by 12.6% due to exceptional costs, the company achieved an 18% increase in adjusted profit before tax pre-impairments. The bank’s strategic initiatives, including Project Fusion, contributed to improved cost-income ratios and operational efficiencies. Challenges in vehicle finance collections and market conditions impacted the cost of risk, but improvements in credit quality and arrears levels were noted. The company remains confident in achieving its medium-term targets by the end of 2025.
More about Secure Trust Bank
Secure Trust Bank PLC operates in the financial services industry, primarily offering consumer and business finance solutions. The company focuses on growing its loan book and enhancing cost efficiencies, with a market emphasis on consumer finance and real estate finance.
YTD Price Performance: 16.02%
Average Trading Volume: 123,148
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £80.13M
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