Arbuthnot Latham, the private banking arm of UK-headquartered Arbuthnot Banking Group, has reported a rise in full year profit before tax to £2.1m ($3.2m) as of 31 December 2012, an increase from £2.0m in the same period a year ago.
The total assets under management (AuM) for Arbuthnot Latham increased to £568.6m from 554.9m in 2011.
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Customer deposits grew by £74m to £495.7m in 2012 for Arbuthnot Latham.
On the whole, Arbuthnot Banking Group’s profit before tax also increased to £12.6m, a marked increase from £5.1m in the same period a year ago.
Total assets of the group increased by 30% to exceed £1bn for the first time in Arbuthnot’s history, from £769.32m in 2011.
Henry Angest, chairman and chief executive of Arbuthnot, said: "This has been a successful year for the Arbuthnot Banking Group and has thus strengthened the foundation for future growth."
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