Business
Audited Final Results for the year ended 31/12/24
Audited Final Results for the year ended 31/12/24.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n\n27 March 2025\nFor immediate release\n \nARBUTHNOT BANKING GROUP (\"Arbuthnot\", \"the Group\" or \"ABG\")\nAudited Final Results for the year to 31 December 2024\n \nStrategic progress and growth in net assets per share\n \nArbuthnot Banking Group today announces its audited results for the year ended 31 December 2024.\n \nArbuthnot Banking Group PLC is the holding company for Arbuthnot Latham & Co., Limited (\"Arbuthnot Latham\").\n \nFINANCIAL HIGHLIGHTS\n· Profit Before Tax of £35.1m (2023: £47.1m)\n· Operating income of £179.5m (2023: £178.9m)\n· Average net margin of 5.1% (2023: 5.7%)\n· Earnings per share of 152.3p (2023: 222.8p)\n· Final dividend declared increased by 2p to 29p (2023: 27p)\n· Special dividend of 20p per share paid in June 2024\n· Total dividend per share for the year of 69p (2023: 46p), an increase of 50%\n· Net assets of £267.0m (2023: £252.4m)\n· Strong capital ratios maintained with a CET1 ratio of 13.2% (2023: 13.0%) and a total capital ratio of 15.3% (2023: 15.2%)\n· Year-end net assets per share of 1636p (2023: 1547p)\n· Substantial surplus liquidity at the year-end of £896m above the regulatory minimum (2023: £962m)\n \nOPERATIONAL HIGHLIGHTS\n· Continued growth in customer deposits to £4.13bn (2023: £3.76bn), up 10% year-on-year, driven by the success of the Group's relationship-based approach across both Private & Commercial Banking\n· Customer loans increased 2% to £2.38bn (2023: £2.33bn)*, as the Group maintained tighter credit appetite during the year\n· Positive contribution to performance from the specialist lending divisions, each of which saw growth in operating income\n· Funds under management and administration (\"FUMA\") increased 30% to £2.21bn (2023: £1.71bn), driven by very strong inflows which represented 28% of FUMA at the start of the year\n· Occupied new office locat...