Secure Trust Bank Plc interim dividend of 16.0 pence per share for 2023, which is payable on 28 September 2023 to shareholders on the register at the close of business on 1 September 2023. This is in line with the Group policy to return 25% of earnings to shareholders.
Other financial highlights include:
8.2% growth in lending balances to £3.2 billion (FY 2022: £2.9 billion)
Cost income ratio remained flat at 56.9% (HY 2022: 57.0%); on track to deliver £4m in annualised savings
Profit before tax pre impairment up 14.6% to £39.3 million (HY 2022: £34.3 million)
Profit before tax of £16.5 million (HY 2022: £17.1 million) adversely affected by a material impairment of £7.2 million relating to a long-running problem debt case within Commercial Finance. The aggregate cost of impairments for Commercial Finance since inception is 0.6% including this impairment
Arrears stable at low levels in Consumer Finance divisions
