British private bank Hampden & Co has recorded an income of £8.8m for the first half of 2022, a jump of 47% year-on-year.

Deposits totaled £731m, which represents a 21% increase from the year ago half. Loans and advances for the period were £434m, an increase of 14% compared with the same period last year.

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Hampden & Co has attributed the growth to demand for its specialist mortgages and loans including residential, retirement, buy-to-let, guarantor and multi-property solutions.

The bank’s new self-build mortgages in London and the South East have also fueled the growth, representing nearly two thirds of total lending in the first half of this year. Its lending in Scotland also saw a robust progress, stated the bank.

Furthermore, Hampden & Co’s portfolio lending business, which allows wealth managers’ customers to borrow against their investment portfolios, rose to £35m in the first half of 2022, up 40% from last year.

The total lending brought in by advisers and intermediaries such as mortgage brokers, wealth managers, solicitors and others increased to around £100m, a 30% growth from H1 2021.

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The bank’s major lending offerings comprising portfolio lending and retirement mortgages saw a surge of 40% and 80%, respectively, in the first half of this year.

Hampden & Co CEO Graeme Hartop said: “Our continued and consistent growth for the first half of 2022 is testament to our relationship-driven approach with clients and the professional advisers that serve them.

“With some private banks moving away from traditional service models, our results show that clients still want and value having access to a named banker and a tailored proposition.

“We continue to invest in growing the business and we are seeing the results of our long-term strategy in terms of client growth and reputation reflected in these very positive financials. Importantly, the bank is on track to report its first full-year profit in FY2022.”