Hampshire Trust Bank achieves first yearly profit
Hampshire Trust Bank has achieved its first yearly profit since relaunching in 2014.
The bank made £4.4m in the year to December 2016 on a pre-tax basis, up from a £3.1m loss in 2015.
It increased its loan book by 161% to £463.5m, while its deposits increased by 180% to £523.3m.
In 2016 the bank more than doubled its customer count to 16,000 from 7,500 in 2015.
Mark Sismey-Durrant, chief executive at Hampshire Trust Bank, said: “2016 was a landmark year for the bank.
“We achieved a full year of profits in only our second full year of trading since relaunch under new ownership.
“We earned strong interest margins on continuing operations and our continued focus on asset quality has resulted in each of our specialist lending lines achieving significant and profitable growth.”
Hampshire more than doubled its property finance loan book to £207.5m and grew its commercial mortgages book to £101.3m.
Sismey-Durrant added: “We are confident that 2017 will be another significant year of strong delivery for the bank.
“Our focus will be on driving greater scale, improving operational efficiency and in further enhancing the experience of our customers.
“We remain committed to creating a specialist bank to be proud of, delivered by experts with high aspirations for delivering great customer service and strong shareholder returns. We are well on our way to delivering this vision.”