Consumer lending at Moneyway parent Secure Trust Bank saw strong growth in the first four months of 2018, the bank has said, as it mulls a capital raise.
The bank said it had prioritised business in invoice, motor, consumer and real estate finance.
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“There has been no material change to the underlying performance of the business in the first four months of 2018 and earnings were in line with management’s expectations,” it said.
It said the savings platform introduced in 2017 was beginning to produce operational benefits, and the deposit customer base was growing.
The bank also hinted at the possibility of a capital raise in response to increasing capital buffer requirements, provided “that it is in the interest of the Bank to do so”.
The bank added: “The current economic outlook remains uncertain. Therefore the bank will continue to adopt a cautious stance in respect of its credit risk appetite.
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By GlobalData“The board continues to see potential to grow the bank’s lending portfolio in line with its ambition and has a clear growth strategy and a pipeline of organic and external new business opportunities.”
