Hampshire Trust Bank logs £1.3m H1 profit

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Hampshire Trust Bank made a £1.3m half-year pre-tax profit, the firm announced today.

In H1 2016 the bank’s total assets rose by 60 per cent to £389m, compared to £243m at the end of last year.

Hampshire Trust says loan assets rose by 75 per cent to £311m in H1 2016, and customer deposits increased by 68 per cent to £314m.

The bank also increased its customer base from 7,500 at the end of 2015 to 10,000 today.

Hampshire Trust Bank chief executive officer Mark Sismey-Durrant says: “In H1, we achieved a pre-tax profit of £1.3m, a solid achievement for a bank that launched just two years ago. As a relatively new business with no legacy loans, we feel well positioned to respond to the current economic political uncertainty around Brexit.”

Hampshire Trust Bank chief financial officer Ketan Malde says: “We are in a strong financial position for the future. The bank is well capitalised with a tier 1 capital ratio of 28% per cent and a liquidity coverage ratio of 257 per cent, demonstrating our robust liquidity position.”