Arbuthnot Banking (LON:ARBB) - Capitalising opportunities
Jun 13th 2012 - Edison Investment Research today published a report on Arbuthnot Banking (ARBB.L, LSE:ARBB, LON:ARBB) entitled "Capitalising Opportunities". In summary, the report says:
In line with its stated strategy, Arbuthnot Banking Group’s (ABG) 75.5% subsidiary Secure Trust Bank (STB) has announced the acquisition of Everyday Loans Holdings, a provider of unsecured loans to a customer base predominantly in lower income groups and operates through a national network of 25 offices. The loan book was £64m at end 2011 and the consideration £1, with a performance-related deferred consideration of up to £1.5m. In the four months to April 2012 Everyday Loans made pre-tax, pre-subordinated-loan-interest profits of £1.2m.
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