Arbuthnot Banking Group PLC H&Co: Tripedalism - three legs are better than two
August 01 2016 - 10:22AM
RNS Non-Regulatory
TIDMARBB
Arbuthnot Banking Group PLC
01 August 2016
Hardman research: Tripedalism - three legs are better than
two
Hardman & Co research report: Tripedalism - three legs are
better than two
Arbuthnot Banking Group (ABG) now has three legs to its
business, each offering good growth options. First, the Private
Bank, Arbuthnot Latham (AL) has invested heavily in staff, products
and new offices with the profit payback now visible. Secondly, ABG
owns a 18.9% stake in Secure Trust Bank the rapidly growing
challenger bank (market value GBP76m). Finally, we estimate ABG has
cGBP150m of surplus capital. With surplus liquidity, it has the
capacity for significant organic or inorganic growth. The options
to deploy this capital are virtually limitless. Our capital fully
deployed valuation basis is 55% above the current price.
Please click here for the full report:
http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/01-08-16-tripedalism-three-legs-are-better-than-two
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