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|Hampshire Trust Bank reports significant growth during first full year of trading|
|Monday, 15 February 2016|
Hampshire Trust Bank, the specialist challenger bank, continues on its strong growth trajectory, growing total assets, customer deposits and customer numbers during the year ended 31st December 2015 - the first full year of trading since the bank’s re-launch in May 2014.
In December 2015, the bank made its first profit since its management buyout in May 2014, with total assets increasing by more than 400% to £243m, compared to £57m at the end of 2014. Customer deposits grew by more than 800% to £189m, compared to £23m at the end of the previous year, and customer numbers soared to 7,500, from 1,200, during the same time period.
In addition, the bank announced that it was working with a growing number of experienced SME housebuilders, and was currently funding more than 600 new residential units in England and Wales.
Hampshire Trust Bank, which is focused on supporting UK SMEs, recently announced that it will launch into the commercial mortgages and professional landlord sectors later this year, with other specialist mortgage lending lines to follow.
Mark Sismey-Durrant, Chief Executive Officer at Hampshire Trust Bank, said: “We are excited about the year ahead. To be in such a strong financial position at this stage of our development, making a profit in December and expanding into new lending lines, is a great start to the New Year.
“We believe there are a wealth of opportunities available to us in the commercial mortgages and professional landlord sectors. As a new bank, we do not have the legacy issues experienced by some of the older banks, we are able to offer the flexible financing solutions and specialist expertise that British businesses need in order to grow.”
As well as diversifying into new business lines, in 2016 Hampshire Trust Bank will continue to grow its existing asset, commercial and property finance businesses and offer consistently competitive personal and business savings accounts. It was recently named as Best New Savings Provider in the Moneynet Personal Finance Awards.
Mark said: “Key to Hampshire Trust Bank’s successful progress is its specialist staff. Our business heads have decades of experience in their chosen sectors and we are focused on maintaining and developing this specialist and relationship-based approach as we grow. We are building a bank to be proud of. A bank that is valued by our customers for its outstanding service, lasting relationships, integrity and expertise.”
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