By Anthony O. Goriainoff
Secure Trust Bank PLC said Thursday that new business loans fell 11% in the fourth quarter after the company tightened credit due to the current economic environment. now.
The London-based private and commercial bank said new loans were 444.6 million pounds ($549 million) in the quarter, compared to GBP502.1 million in the third quarter, and GBP470.2 million for the fourth quarter. it’s 2021.
The company said the core loan book increased by 19% to GBP2.92 billion in the period due to strong growth in consumer finance.
New customer deposits were 7% higher at the end of the fourth quarter, compared to the third quarter.
Secure Trust Bank said it continues to focus on managing financing costs in a rising environment, as well as preserving its interest rates, which were 5.7% in the second half – in line with the first half .
“We will continue to manage our operations effectively during this period of uncertainty and remain confident in delivering on our growth needs and long-term objectives,” said CEO David McCreadie.
Shares at 0935 GMT were trading at 732 pence.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com