Hampshire Trust Bank’s asset finance loan book value increased by over 500% in 2015 to £56m (€72.62m) as of 31 December 2015.

A spokeswoman added that the asset finance division completed over 3,000 asset finance deals since it began operating in May 2014.

In December 2015, the bank made its first profit since its management buyout in May 2014, with total assets increasing by more than 400% to £243m, compared to £57m at the end of 2014. Customer deposits grew by more than 800% to £189m, compared to £23m at the end of the previous year, and customer numbers grew to 7,500, from 1,200, during the same time period.

Mark Sismey-Durrant, chief executive officer at Hampshire Trust Bank, said: "We are excited about the year ahead. To be in such a strong financial position at this stage of our development, making a profit in December and expanding into new lending lines, is a great start to the New Year.

"Key to Hampshire Trust Bank’s successful progress is its specialist staff. Our business heads have decades of experience in their chosen sectors and we are focused on maintaining and developing this specialist and relationship-based approach as we grow."