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July 27, 2012updated 04 Apr 2017 3:37pm

Arbuthnot Latham reports soaring profit hike

Arbuthnot Groups private banking subsidiary, Arbuthnot Latham reported a 40% jump in profits year-on-year to £1.4m in the first six months of 2012. Revenue from external customers increased in the first six month of 2012 at £12.3m compared with £10.9m in June 2011.

By Lizabeth Davis

Arbuthnot Group’s private banking subsidiary, Arbuthnot Latham reported a 40% jump in profits year-on-year to £1.4m in the first six months of 2012.

Revenue from external customers increased in the first six month of 2012 at £12.3m compared with £10.9m in June 2011.

The private banking division said that strong capital base and excess liquidity aided it, in being able to utilize lending opportunities.

Arbuthnot Latham’s independent provider of structured products, Gilliat Financial Solutions reported both a consistent increase in sales volumes and news that it had completed its first overseas offering and developed its brand awareness across the UK IFA network.

Arbuthnot also highlighted the appointment of ex-Coutts managing director James Fleming as chief executive at the end of the first quarter.

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