Secure Trust Bank PLC AGM Statement (2642X)
May 04 2016 - 10:20AM
UK Regulatory
TIDMSTB TIDMARBB
RNS Number : 2642X
Secure Trust Bank PLC
04 May 2016
4 May 2016
SECURE TRUST BANK PLC
Annual General Meeting Statement 2016
The Board of Secure Trust Bank PLC (the 'Bank') announces that
shareholders approved all the resolutions proposed at the Annual
General Meeting of Secure Trust held today Wednesday 4 May
2016.
At the meeting the Chairman, Sir Henry Angest, made the
following statement:
"The STB Group has made good progress during the first few
months of the year. The completion on 13 April 2016 of the sale of
the Everyday Loans business has generated a substantial net profit
which has benefited capital and liquidity.
"The continuing business divisions are developing as planned.
During the first quarter of the year Motor Finance and Retail
Finance have delivered higher new business volumes compared to the
same period in 2015. In the SME lending market we continue to see
strong demand for our products with the Commercial Finance and
Asset Finance businesses performing in line with management's
expectations. As previously disclosed, the Bank has taken a more
cautious approach to lending to the residential development sector
ahead of the EU referendum vote.
"The Bank continues to work on a diverse pipeline of business
development opportunities. With very strong capital and funding
positions we believe we are well positioned to make further
positive progress during the year."
-ENDS-
Enquiries:
Secure Trust Bank PLC Tel: 020 7012 2400
Sir Henry Angest, Non-Executive
Chairman
Andrew Salmon, Non-Executive
Director
Paul Lynam, Chief Executive Tel: 0121 693 9100
Officer
Neeraj Kapur, Chief Financial
Officer
David Marshall, Director Tel: 020 7012 2400
of Communications
Canaccord Genuity Limited Tel: 020 7665 4500
(Nominated Adviser & Broker)
Sunil Duggal
Roger Lambert
Stifel Nicolaus Europe Tel: 020 7710 7600
Limited (Financial Advisor
& Broker)
Robin Mann
Gareth Hunt
Bell Pottinger Tel: 020 3772 2566
(Financial PR)
Ben Woodford
Dan de Belder
This information is provided by RNS
The company news service from the London Stock Exchange
END
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