- Secure Trust Bank
- 14 August 2025 09:29:45
Source: Sharecast
In the six months to 30 June, adjusted pre-tax profit rose 36.3% to £23.3m, while statutory pre-tax profit increased 30.4% to £22.3m.
Customer deposits pushed up 8.2% to a record £3.5bn and net lending balances rose 6.1% to £3.8bn.
The net interest margin improved to 5.4% from 5.3% thanks to lower cost of funds in the first half of the year and improved margins in Retail Finance.
Adjusted return on average equity ticked up to 9.6% from 7.3% at the end of June 2024.
Chief executive David McCreadie said: "We are on track to deliver £8 million of annualised cost savings by the end of 2025. We recently announced a strategic pivot away from Vehicle Finance which will enable further allocation of capital to our higher-performing specialist lending businesses. This decision, alongside a strategic refresh which will be detailed at a capital markets event in Q4 2025, will position the group to deliver sustainable attractive returns.
"As previously announced, I will be retiring as the group's CEO. During my tenure, we have delivered a radical transformation of the group to position it for future growth. I wish my successor, Ian Corfield, every success in the role."
At 0920 BST, the shares were up 6.2% at 1,167.99p.