Business
Disposal - Sale of Business
Disposal - Sale of Business.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5280E\n Secure Trust Bank PLC\n 08 July 2021\n \n \n \n PRESS RELEASE\n Secure Trust Bank PLC\n LEI: 213800CXIBLC2TMIGI76\n 8 July 2021\n For immediate release \n \n \n \n \n SECURE TRUST BANK PLC\n \n \n Sale of SME Asset Finance Portfolio\n \n \n \n \n \n The Board of Secure Trust Bank PLC ('STB') announces that on 6 July 2021 STB sold its remaining portfolio of SME asset finance agreements and equipment to Haydock Finance Limited. \n \n \n \n \n \n STB ceased originating this type of asset finance business in 2018\n , running its lending balances down further from £10.4m at 31 December 2020. The sale is in line with STB's strategy of focusing on the areas of the business that have the strongest prospects for delivering sustainable and profitable medium to long-term growth.\n \n \n \n \n \n \n \n \n \n \n \n ‐\n \n \n ENDS-\n \n \n \n \n \n \n Enquiries: \n \n \n Secure Trust Bank PLC\n \n \n David McCreadie, Chief Executive Officer\n \n \n Rachel Lawrence, Chief Financial Officer\n \n \n Tel: 0121 693 9100\n \n \n \n \n \n Stifel Nicolaus Europe Limited (Joint Broker)\n \n \n Robin Mann\n \n \n Gareth Hunt\n \n \n Stewart Wallace\n \n \n Tel: 020 7710 7600\n \n \n \n \n \n Canaccord Genuity Limited (Joint Broker)\n \n \n Emma Gabriel\n \n \n Tel: 020 7523 8000\n \n \n \n \n About STB:\n Secure Trust Bank is an established, well‐funded and capitalised UK retail bank with a 69 year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had 1,003 employees (full‐ time equivalent) as at 31 December 2020. The Group's diversified lending portfolio currently focuses on two sectors:\n (i) Business Finance through its Real Estate Finance and Commercial Finance divisions,\n (ii) Consumer Finance through its Motor Finance, Retail Finance Debt Management and Consumer Mortgages divisions.\n \n As at 31 December 2020 the Group's loans and advances to customers totalled £2,358.9 million, customer deposits totalled £1,992.5 million and the Group's total customer base was well over 1.5 million.\n Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authori...