Business
Annual General Meeting Statement - 2013
Annual General Meeting Statement - 2013.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 3788E Arbuthnot Banking Group PLC 09 May 2013 \n \n\n \nPRESS RELEASE\nFor immediate release\n \n9 May 2013\n \n \nArbuthnot Banking Group PLC\n \nAnnual General Meeting Statement - 2013\n \nThe Board of Arbuthnot Banking Group PLC (the \"Group\") announces today that shareholders approved all the resolutions proposed at the Annual General Meeting held today Thursday 9 May 2013.\n \nAt the meeting Henry Angest, Chairman made the following statement:\n \n\"Across the Group our businesses have started the year well. \n \nSecure Trust Bank PLC (\"Secure Trust\") continued to trade well during the first few months of the year with strong levels of organic new lending. Motor finance volumes in April represented a new record month. \n \nEveryday Loans is delivering a strong performance and new branches have been opened in Belfast and Ipswich, and a further branch will open shortly in Edinburgh. The V12 operations are being integrated with those of the existing Secure Trust Retail Finance business, and management see significant potential in this area as the retail market recovers. New senior sales staff are being recruited and the business expects to see further growth once a larger sales team is in place. The integration of Debt Managers (Services) Limited is progressing as anticipated. \n \nArbuthnot Latham is seeing good growth across all its lines of business as the new recruits start to gain traction in their markets. The bank has also obtained an agreement in principle to operate in Dubai, which should see Arbuthnot Latham open an office in the middle of the year offering wealth planning services initially to the expatriate population.\n \nAs previously mentioned both of our banks have applied to join the Funding for Lending Scheme (\"FLS\") and much progress has been made, but we still await precise terms for final admittance to the scheme. We continue to manage our liquidity with caution.\n \nBoth Secure Trust and Arbuthnot Latham are actively working on a pipeline of business development opportunities. But as always management remain prudent in assessing these opportunities, in particular taking into account the on-going uncertainties in the economy.\"\n \n \n \n-ENDS-\n \n \n \nArbuthnot Banking Group ...