Hampshire Trust Bank (HTB) profits for the six months to June 30 have jumped 20% from last year.

Pre-tax profits reached £5.3m, up from £4.4m as of the end of 2016. The loan book increased to £580m, up 25%.

The bank has also announced plans to open new offices in Leeds.

Mark Sismey-Durrant, chief executive officer, said: “Hampshire Trust Bank is continuing to achieve significant and sustainable growth.

“As a specialist bank, focused on supporting SMEs in the sectors in which we operate, we take a considered approach to lending and with our recent SME Growth Watch research forecasting that SME contributions to the UK economy will grow by 19% from 2016 to 2025, we believe there are plenty of opportunities available for smaller businesses in the years ahead.”

In an interview with City A.M., Sismey-Durrant also reassured investors on the bank’s exposure to Brexit, saying that HTB’s “diversified portfolio” and “quite conservative” ledger put it in a safe position to weather the “febrile environment” of the departure from the EU.

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However, he added: “Until there is some clarity about what Brexit means you do have to be slightly wary.”