The Secure Trust Bank Plc Board approved an interim dividend of 11.3 pence per share for HY 2024 (HY 2023: 16.0 pence), which will be payable on 26 September 2024 to shareholders on the register at the close of business on 30 August 2024. This is in line with the Group's revised dividend policy set out in the FY 2023 results; where the dividend was re-based to a progressive approach.
Other financial highlights include:
•Loan book growth of 3.2% (8.3% on HY 2023)
•Total profit before tax increased by 14.0% to £17.1 million (HY 2023: £15.0 million)
•Adjusted profit before tax pre impairments up 12.4% to £45.2 million (HY 2023: £40.2 million)
•Adjusted profit before tax of £17.1 million (HY 2023: £17.4 million)
•Net Interest Margin ('NIM') at 5.3% (HY 2023: 5.4%), with a period end exit rate of 5.4%
•Adjusted cost income ratio improved by 220 bps to 53.7% (HY 2023: 55.9%)
•Annualised cost saving target increased from £5 million to £8 million1 by year-end 2025
•Tangible book value per share increased 3.1% to £18.36 per share (FY 2023: £17.80)
