Oct 14th 2013 - Edison Investment Research today published a report on Arbuthnot Banking (ARBB.L, LSE:ARBB, LON:ARBB) entitled "Growth And Investment Continue". In summary, the report says:
Arbuthnot's Q313 trading update indicates the positive trends from H113 have continued as expected. The retail bank (Secure Trust, STB) has continued to see strong demand and outlined its SME financing launch plans for H114. The private bank has, as expected, seen funding costs fall as expensive deposits mature. Its office in Dubai opened in July and is reported as having seen good interest despite the quiet summer months. The SME financing start-up costs will impact on 2014, but other estimates are broadly unchanged. ABG remains valued well below its stake in STB.
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