Business
Response to Financial Stability Report
Response to Financial Stability Report.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \nRNS Number : 3409D Secure Trust Bank PLC 06 July 2016 \n\nWednesday 6 July 2016\n \n \nSECURE TRUST BANK PLC (\"STB\")\n \nThe Board of Secure Trust Bank PLC notes the contents of the Financial Stability Report published yesterday and the comments from the Governor of the Bank of England about potential valuation risks and bank lending to the Commercial Property and Buy to Let sectors. \n \nSecure Trust Bank has long regarded Commercial Property lending as potentially higher risk and has had limited appetite for this sort of lending which is governed by very restrictive credit policies. As a result STB confirms that it has virtually no exposure to the commercial property market with the total lending balances outstanding amounting to a mere £31m as at 24 June 2016. This is spread across a number of counterparties and properties and, while classified as commercial lending, the majority is secured and risk assessed against residential property which incorporate small elements of commercial activity. \n \nSecure Trust Bank does not provide regulated mortgages to either owner occupiers or buy to let landlords. STB therefore has zero lending balances in respect of regulated buy to let lending. \n \nThe Board notes that STB is one of the most strongly capitalised banks in the UK with a proforma CET 1 ratio of 23% as at 31.12.15. The Board believes STB remains well positioned to navigate the uncertainties arising following the EU referendum and to pursue its strategic priorities. The bank continues to focus on supporting its valued customers just as it has done over the last 64 years. \n \n \n \n\n\n\n\nEnquiries: \n \nSecure Trust Bank PLC\nPaul Lynam, Chief Executive Officer\nNeeraj Kapur, Chief Financial Officer \n \n\n\n \n \n \n \nTel: 0121 693 9100 \n \n\n\n\n\nCanaccord Genuity Limited (Nominated Adviser) \nSunil Duggal \n \n\n\n \nTel: 020 7665 4500 \n \n\n\n\n\nCanaccord Genuity Limited (Joint Broker) \nRoger Lambert \n \n\n\n \nTel: 020 7523 8000 \n \n\n\n\n\nStifel Nicolaus Europe Limited (Joint Broker)\nRobin Mann\nGareth Hunt \n \n\n\n&nb...