Arbuthnot Latham, the private banking unit of Arbuthnot Banking Group, has registered a pre-tax profit of £3.6m for the year ended 31 December 2014, compared to £7.7m a year ago which included a £6.5m gain on sale of Wilson Street, the group’s offices.
The company’s assets under management stood at £666m, a rise of 26% as against £528m a year earlier.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Customer deposits soared 12% to £585.9m from £519.7m in the previous year.
Overall, Arbuthnot Banking Group’s pre-tax profit jumped 43% to £22.5m from £15.7m a year ago.
The group’s overall operating income was £126.3m, an increase of 26% compared with £100m in 2013.
Arbuthnot chairman and chief executive Henry Angest said, "This has been another good year for the Group with it reporting record profits. Customer lending across the Group has been particularly strong and has now exceeded £1.1 billion. Over the recent past Secure Trust has remained the Group’s main focus of strategic investment while Arbuthnot Latham has also been growing well. The Group has now generated additional capital and is well positioned further to support this growth."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
