Hardman & Co Research / GB0007922338
30.07.2024 - 12:40:04Hardman & Co Research on Arbuthnot Banking Group (ARBB): 1H’24 - optimising the franchise value
| Hardman & Co Research Hardman & Co Research on Arbuthnot Banking Group (ARBB): 1H’24 - optimising the franchise value 30-Jul-2024 / 11:40 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research on Arbuthnot Banking Group (ARBB) 1H’24: optimising the franchise value ABG’s 1H'24 results showed the group’s continued evolution to optimise its franchise value. 2023 saw the peak benefits from ABG’s relationship deposit franchise in the recent rising rate environment. Margins could be widened while still giving customers competitive products. 1H’24 profits fell £6m (-21% on 1H’23), as low-cost fixed deposits matured and rolled into higher-rate products. The effect was mitigated by i) strong growth in specialist lending, the result of a multi-year strategy, ii) growth in lower-cost SME deposits (a new focus), and iii) the extended duration, and increased volume, of high-quality debt securities instead of placings at the Bank of England (BoE). Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/arbuthnot-1h24-optimising-franchise-value/ If you are interested in meeting the company, you can register your interest by clicking on the above link.
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