Secure Trust Bank PLC Trading Update (5174T)
25 November 2021 - 5:59PM
UK Regulatory
TIDMSTB
RNS Number : 5174T
Secure Trust Bank PLC
25 November 2021
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
25 November 2021
For embargoed release at 07.00 am
SECURE TRUST BANK PLC
Trading Update
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018.
Secure Trust Bank PLC ("STB") announces that it anticipates the
full financial year 2021 IFRS 9 impairment charge will be
materially below consensus (GBP12.9m). As a result, the Board
expects that STB's profit before tax in FY21 will be above the top
end of analysts' consensus estimates.
The Board's expectations for FY21 on a pre IFRS9 provision basis
are unchanged, as are its expectations for the level of IFRS9
provisions in FY22, which will be driven by the provisioning
required on the expected increased level of lending activity.
The person responsible for making this announcement is Mark
Stevens, Company Secretary.
Enquiries:
Secure Trust Bank PLC
David McCreadie, Chief Executive Officer
Rachel Lawrence, Chief Financial Officer
Tel: 0121 693 9100
Stifel Nicolaus Europe Limited (Joint Broker)
Robin Mann
Gareth Hunt
Stewart Wallace
Tel: 020 7710 7600
Canaccord Genuity Limited (Joint Broker)
Andrew Potts
Tel: 020 7523 8000
Forward looking statements
This document contains forward looking statements about the
business, strategy and plans of STB and its current objectives,
targets and expectations relating to its future financial condition
and performance. Statements that are not historical facts,
including statements about STB's or management's beliefs and
expectations, are forward looking statements. By their nature,
forward looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur
in the future. STB's actual future results may differ materially
from the results expressed or implied in these forward looking
statements as a result of a variety of factors. These include UK
domestic and global economic and business conditions, risks
concerning borrower credit quality, market related risks including
interest rate risk, inherent risks regarding market conditions and
similar contingencies outside STB's control, the COVID-19 pandemic,
expected credit losses in certain scenarios involving forward
looking data, any adverse experience in inherent operational risks,
any unexpected developments in regulation or regulatory, and other
factors. The forward looking statements contained in this document
are made as of the date of this document, and (except as required
by law or regulation) STB undertakes no obligation to update any of
its forward looking statements.
About the Company:
Secure Trust Bank is an established, well--funded and
capitalised UK retail bank with a 69 year trading track record.
Secure Trust Bank operates principally from its head office in
Solihull, West Midlands, and had 940 employees (full-- time
equivalent) as at 30 June 2021. The Group's diversified lending
portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance
and Debt Management divisions.
Secure Trust Bank PLC is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFLFLTLILSFIL
(END) Dow Jones Newswires
November 25, 2021 01:59 ET (06:59 GMT)
Secure Trust Bank (LSE:STB)
Historical Stock Chart
From Apr 2024 to May 2024
Secure Trust Bank (LSE:STB)
Historical Stock Chart
From May 2023 to May 2024