Arbuthnot Banking - Hardman & Co: 2017: capital deployed, adding value London Stock Exchange
RNS Number : 8029J
Arbuthnot Banking Group PLC
04 April 2018

Hardman & Co: 2017: capital deployed, adding value

2017: capital deployed, adding value: ABG has a long track record of adding value. The partial sale of its Secure Trust Bank (STB) in 2016 saw significant capital generated, and ABG is now deploying this surplus to generate returns. Despite heavy investment, profits nearly doubled, with loans and deposits up over a third. Credit remains outstanding, with the secured nature of lending seeing 2H'17 impairments of just £51k on a £1bn loan book. The outlook is for further strong profit growth, more investment, and greater diversification by business line and risk exposure. The shares trading below NAV appears an anomaly, given ABG's track record and earnings growth outlook.

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About Hardman & Co: For the past 20 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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