Aug 10th 2012 - Edison Investment Research today published a report on Secure Trust Bank (STB.L, LSE:STB, LON:STB) entitled "Growth Delivered As Promised". In summary, the report says:
Secure Trust Bank (STB) has continued to use its strong funding (loan-to-deposit ratio 87%) and capital positions (tier 1, 15%), to fully exploit the market opportunities created by the financial crisis. Annual organic loan growth was 53% and broadly spread across the group. The acquisition of Everyday Loans added a similar amount to the portfolio. Heavy investment continued but costs grew by £2.2m against revenue growth of £3.3m. The credit experience remained good. Excluding the acquisition accounting gains, underlying profits on a company basis grew 50%. We expect strong growth to continue.
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