Business
Final Results for the year to 31 December 2015
Final Results for the year to 31 December 2015.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \nRNS Number : 3659S Secure Trust Bank PLC 17 March 2016 \n\n \n \n \n17 March 2016\n \nSECURE TRUST BANK PLC\nAudited Final Results for the year to 31 December 2015\nGrowth and diversification drives record profits\nSecure Trust Bank PLC (\"STB\" or \"the Company\" or \"the Bank\") today announces continued strong progress during 2015. An increase in customer lending balances of 73% and growth in overall customer numbers of 33% evidence strong ongoing customer demand. Pretax profits, including Everyday Loans Group, of £36.5m are 40% higher than the prior year figure of £26.1m and are a new record high. \nThe agreed disposal of Everyday Loans Group announced on 4 December 2015 is progressing as planned and is expected to transfer ownership before the end of April 2016, following approval by the Regulatory Authorities. The Board is proposing a special dividend for 2016 of 165p per ordinary share at a total cost of £30m which is contingent on the completion* of the transaction at which time further details will be announced.\n Financial Highlights\n· Completion of agreed sale of Everyday Loans Group should generate an estimated £115m post-tax profit to be reported in the H1 2016 profit and loss account \n· Proposed special dividend per share of 165p on completion* of Everyday Loans Group sale \n· Proposed final dividend per share of 55p to be paid on 6 May 2016 (2014: 52p) \n· Statutory profit before tax (including discontinued operations) increased by 40% to £36.5m (2014: £26.1m)\n· Operating income (including discontinued operations) increased by 35% to £132.5m (2014: £97.9m)\n· Post-tax return on average equity (including discontinued operations) 21.8% (2014: 23.1%)\n· Reported earnings per share 157.8p (2014: 122.3)\n· Core Equity Tier 1 Capital ratio at year end of 13.6% (2014: 18.7%) increases to 24.1% post Everyday Loans Group sale completion\n· Loan to deposit ratio 104% (2014: 102%)**\n \nOperational Highlights\n·  ...