Secure Trust Bank
 | |
| Company type | Public (LSE: STB) |
|---|---|
| Industry | Financial services |
| Founded | 1952 |
| Headquarters | , |
Key people | Lord Forsyth (Chairman) David McCreadie (CEO) |
| Products | Business banking, motor finance, retail finance, savings |
| Revenue |  £184.7 million (2023)[1] |
| £42.6 million (2023)[1] | |
 £24.3 million (2023)[1] | |
| Total assets | £3,778.0 million (2023)[1] |
| Total equity | £344.5 million (2023)[1] |
| Website | www |
Secure Trust Bank is a British retail and commercial banking group listed on the London Stock Exchange, where it is a constituent of the FTSE SmallCap Index.
History
[edit]The bank was established in 1952 as Secure Homes Limited and became a subsidiary of the Arbuthnot Banking Group in 1985.[2]
The company became Secure Trust Bank PLC in 1994[3] and was floated on the London Stock Exchange in an initial public offering in November 2011.[4]
In 2015 the bank launched an asset finance division to enable it to offer lending to businesses.[5]
In 2016 the Arbuthnot Banking Group reduced its majority stake from 51.9% to 20%, for about £145 million.[6]
Later that year, the bank sold its consumer lending business Everyday Loans, reducing its position in UK's unsecured personal loan market.[7]
In January 2021, Secure Trust Bank announced that CEO Paul Lynam would be stepping down with immediate effect, to be replaced by David McCreadie, a former Managing Director at Tesco Bank.[8]
In March 2022, Secure Trust Bank announced it would be selling the Debt Managers business, which had bought some nine years earlier, to Swedish firm Intrum.[9]
In May 2022, Secure Trust Bank completed the acquisition of BNPL start-up AppToPay which will operate as part of V12 Retail Finance to offer a BNPL style product alongside its traditional retail finance products. [10]
Operations
[edit]The bank offers a variety of savings accounts and consumer and business lending products. Motor finance is offered via hire purchase through its Moneyway brand, and hire purchase, personal contract purchase and dealership finance through the V12 Vehicle Finance brand.[11]
References
[edit]- ^ a b c d e "Annual Results 2023". Secure Trust Bank. Retrieved 21 March 2024.
- ^ "Corporate Information". Secure Trust Bank. Retrieved 11 September 2015.
- ^ Company No. 00541132. "Companies House - Secure Trust Bank Public Limited". Companies House. Retrieved 1 December 2017.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ "London Stock Exchange welcomes Secure Trust Bank Plc to the Main Market". Retrieved 18 March 2021.
- ^ Titcomb, James (8 March 2015). "Challenger bank Secure Trust makes business lending push". The Telegraph. Retrieved 11 September 2015.
- ^ Wallace, Tim (27 May 2016). "Arbuthnot sells down majority stake in Secure Trust Bank". Daily Telegraph. Retrieved 1 December 2017.
- ^ "Secure Trust raises red flag over unsecured personal loans market". proactiveinvestors. 13 January 2017. Retrieved 1 December 2017.
- ^ "SECURE TRUST BANK APPOINTS CEO". Insider Media Limited. 5 January 2021. Retrieved 5 January 2021.
- ^ Metcalf, Sam (11 March 2022). "Secure Trust Bank offloads loss making debt purchase arm". TheBusinessDesk.com. Regional Media Services Ltd. Retrieved 21 March 2022.
- ^ "Completion of the AppToPay Ltd Acquisition". Financial Times. Financial Times. Retrieved 26 May 2022.
- ^ "V12 Vehicle Finance commits to electrify car fleet". Fleet News. 7 January 2022. Retrieved 7 February 2024.
External links
[edit]
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