Arbuthnot Banking Group PLC Hardman & Co: 2017: capital deployed, adding value
April 04 2018 - 6:15AM
RNS Non-Regulatory
TIDMARBB
Arbuthnot Banking Group PLC
04 April 2018
Hardman & Co: 2017: capital deployed, adding value
2017: capital deployed, adding value: ABG has a long track
record of adding value. The partial sale of its Secure Trust Bank
(STB) in 2016 saw significant capital generated, and ABG is now
deploying this surplus to generate returns. Despite heavy
investment, profits nearly doubled, with loans and deposits up over
a third. Credit remains outstanding, with the secured nature of
lending seeing 2H'17 impairments of just GBP51k on a GBP1bn loan
book. The outlook is for further strong profit growth, more
investment, and greater diversification by business line and risk
exposure. The shares trading below NAV appears an anomaly, given
ABG's track record and earnings growth outlook.
http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/04.04.18-2017-capital-deployed-adding-value.pdf
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