Arbuthnot Banking Funds under Management and Administration exceed £2bn for the first time

Arbuthnot Banking Group PLC (LON:ARBB) has provided the following update regarding the trading performance of the Group for the three months to 30 September 2024.

Highlights

·    Customer deposit balances of £3.8bn at the period end (30 September 2023: £3.5bn)

·    Customer loans (including leased assets) of £2.5bn at the period end (30 September 2023: £2.3bn)

·    Funds under Management and Administration exceed £2bn for the first time with growth of 18% in the first nine months of 2024

·    Completed London office move to newly refurbished premises in the heart of the City

Group Performance

Arbuthnot Banking Group continued to make progress with both its deposits and loans. However, while the Group maintained its plan to diversify the lending portfolios as indicated in the Future State 2 strategy, it is also good to report the strong performance of the Wealth Management division, which saw Funds under Management and Administration exceed £2bn for the first time in its history.

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