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Arbuthnot Banking Group (ARBB): 2020 results in...
Arbuthnot Banking Group (ARBB): 2020 results in....
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \n\n\nHardman & Co Research\n\n\n\nHardman & Co Research: Arbuthnot Banking Group (ARBB): 2020 results in line; 2021 outlook: strong recovery06-Apr-2021 / 11:15 GMT/BST\n\n\nHardman & Co Research: 2020 results in line; 2021 outlook: strong recovery\n\nThe key highlights from the FY'20 results were a small loss (as expected), with breakeven excluding deal costs. Margin pressure (from base-rate cuts) and a £2m rise in impairments, despite there being zero higher-risk Stage 2/3 property exposures over 80% LTV (2019 over £30m), were the main drivers. The 2021 outlook is for i) a strong recovery, driven by loan volume growth, ii) less pain from excess liquidity, iii) profits generated by Asset Alliance after acquisition (completed end-March, which will also see a £10m equity uplift, as it is being bought below book), iv) a gain on the sale of Tay mortgages, v) forecast lower impairments, and vi) a dividend from STB.\n\nPlease click on the link below for the full report:\n\nhttps://www.hardmanandco.com/research/corporate-research/2020-results-in-line-2021-outlook-strong-recovery/ \n\nIf you are interested in meeting the company, you can register your interest by clicking on the above link\n\n\n To contact us:\n\n Hardman & Co1 Frederick's Place\n\n London\n\n EC2R 8AE\n\n www.hardmanandco.com\n\n Follow us on Twitter @HardmanandCo\n \n \n Contact:\n\n Mark Thomas\n\n +44(0)20 3693 7075\n \n \n \n\n [email protected] \n \n Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.\n\nAbout Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. \n\nHardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and...