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May 10, 2018

HTB asset finance book grew 37.4% in 2017

Hampshire Trust Bank (HTB)'s asset finance loan book grew 37.4% in 2017, totalling £154.1m (€175.4m).

By Lorenzo Migliorato

Hampshire Trust Bank (HTB)’s asset finance loan book grew 37.4% in 2017, totalling £154.1m (€175.4m).

In the asset finance portfolio, the bank singled out block discounting’s growth, which saw business increase over 50% to £62.9m. Additionally, funding to the agricultural sector grew 19% between 2016 and 2017, managing director Jon Maycock told Leasing Life in February.

The full-year results were the first published since the appointment of Maycock in February 2017. In subsequent months, the bank further expanded its asset finance team.

In May, it appointed Vincenzo Scalzone, formerly of Shire Leasing, to the newly-created position of head of broker. In October, it recruited business development manager Clare Peel from Shawbrook and internal sales manager Martin Bugden from Lombard.

The company also moved to new headquarters in the City of London at the start of 2017.

HTB saw pre-tax profits of £9.9m for the year, up 125% from 2016. It reported a 14% increase in customer deposits, to £596.3m, and a 20% increase in customer numbers, to around 19,600.

Chief executive officer Matthew Wyles, appointed last month, said: “The bank delivered a strong financial performance in 2017 with solid growth across the board.

“Whilst obviously our business needs to grow further, we will continue to focus on ensuring that this growth is controlled and sustainable.”

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